Max Verstappen is willing to reach to a new multi-million dollar deal with Red Bull.

Max is expected to sign a new, lucrative contract with Red Bull before his championship season in 2022.

Verstappen’s current contract with the team extends until 2023, but following last year’s unprecedented success, Red Bull executives have indicated that talks about a new contract are underway.

At this week’s pre-season test in Barcelona, a Red Bull source revealed to RacingNews365.com that negotiations have begun, but gave no timeframe.

Verstappen set for life at Red Bull?

Last month, Red Bull director Helmut Marko indicated that the team’s wage was “already near to the limit,” but the team has since negotiated multi-million dollar partnerships with Oracle and Bybit.

As a result, it’s expected that Verstappen’s compensation, which is presently estimated to be approximately $25 million per season, would rise to around $30 million, with the possibility of further bonuses.

Meanwhile, F1’s present budget cap, which was reduced from $145 million to $140 million for 2022, excludes driver pay, which is another point that favours Verstappen during discussions.

Since Verstappen’s championship victory and following statement that he wanted to stay at Red Bull “for the rest of my life,” a new contract has considered a foregone conclusion.

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