LONDON: World champion Max Verstappen has signed a long-term contract extension with Red Bull, the Formula One team announced on Thursday.
The deal, reportedly worth up to £40million (US$54 million) per season, will keep the Dutch driver with the team until the end of 2028.
The 24-year-old's current contract was due to expire at the end of next season but he has been rewarded for beating seven-time champion Lewis Hamilton to the title.
"I really enjoy being part of the Red Bull Racing team, so choosing to stay to the 2028 season was an easy decision," said Verstappen, who will begin his championship defence later this month at the Bahrain Grand Prix.
Team principal Christian Horner said: "To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent.
"Our immediate focus is on retaining Max's world championship title, but this deal also shows he is a part of the team's long-term planning."--AFP