It is a huge statement of intent from both parties to tie down the reigning world champion to a five-year extension, which is in addition to his current Red Bull contract that runs until 2023. Overall, it will keep the 24-year-old at the team until he is at least 30. 

Fresh from beating Lewis Hamilton in the controversial 2021 season finale in Abu Dhabi to win his maiden world title, it is easy to see why Verstappen would want to continue with Red Bull.

That is especially the case when considering the Dutchman will reportedly earn a whopping €50m (£40m) a year, making it one of the most lucrative deals in F1 history if correct and bringing Verstappen on a salary par with seven-time world champion Hamilton. 

“I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision,” said Verstappen. 

“I love this team and last year was simply incredible, our goal since we came together in 2016 was to win the championship and we have done that, so now it’s about keeping the number one on the car long-term.”

Verstappen has previously made it clear that chasing F1 titles and records is not what matters most to him, having stressed it would not “change my life” if he ended up finishing first or second last season. 

He has openly admitted on several occasions that he would be ready to walk away from F1 at the point he is no longer enjoying it. While on-track success will naturally play a role in his motivation, Verstappen also wanted to be at a team where he can “have fun”. 

“Even after winning the championship, my ambition is still to win races and try to fight for the championship again,” he said. “Also now, we don’t need to think about it anymore, we know how long the contract is. 

“Besides trying to fight for wins and championship, what is important is to have a good time and have fun, and actually enjoy your time in F1.” 

The finer details of driver contracts are never usually revealed by teams, but there is likely to be some kind of get-out clause in Verstappen’s new deal given just how remarkably long it is. 

Red Bull confirmed Verstappen had a performance clause in his previous contract extension he signed at the start of 2020, though there is little reason to suggest he would be looking to leave the team he has been associated with since the age of 16. 

After clinching his first world title in Abu Dhabi, Verstappen professed his “love” for Red Bull and declared he wanted to stay with the team forever. That affinity has been underlined with his staggering new deal that covers the next seven seasons. 

“I just feel really good at the team and I really enjoy working with the people in every department, especially, of course, after winning the championship last year,” he added. “For me, it’s the best team out there, so I want to stay.” 

For Red Bull, the deal marks a huge coup, signalling the faith and trust that exists between Verstappen and the team. Red Bull firmly believes it has secured the services of the best driver of the grid.

“To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent,” said Red Bull team principal Christian Horner. 

"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.

"With the Red Bull Powertrains division working towards the new engine regulations for 2026 we wanted to make sure we had the best driver on the grid secured for that car.”

As Horner referred to, Red Bull already has an in-house engine project in the works, with a state-of-the-art facility soon to be fully operational at its Milton Keynes headquarters as part of its newly-formed Red Bull Powertrains division. 

That will focus on new power unit regulations that are scheduled to arrive in 2026 and an aggressive recruitment drive - including prizing several key PU figures away from rival Mercedes - is already well underway. 

Not only is Red Bull spending big, it is also attracting major sponsorship deals too. Most recently, Red Bull secured a huge financial boost from new title sponsor Oracle, signing a five-year deal understood to be worth $500m. 

Now it has its star driver tied down, Red Bull can shift its focus to long-term planning in order to meet its lofty ambitions in F1. 

“I think it was very important for us to have continuity,” Horner said. “We’ve always been a big believer in continuity. 

“I think having Max for the long-term, through the transition into 2026, with the new regulations, as we become an engine manufacturer and supplier, it’s fantastic for us to have Max committed for that transitional period.”

It is clear Red Bull is looking to lay the foundations to build an F1 dynasty to rival the success Mercedes and Hamilton have enjoyed for much of the last decade, and Verstappen is very much front and centre of that plan.