Monday, July 13, 2026

Max Verstappen Ties Lewis Hamilton with Record $53M Contract

  • The 24-year-old Formula One champion agreed to a multiyear deal with Red Bull Racing.
  • Verstappen has 20 career Formula One victories, including 10 in 2021.
Jerome Miron-USA TODAY Sports/Design: John Regula

In December, Max Verstappen squeaked by legend Lewis Hamilton in the final race of the season for his first Formula One World Drivers’ Championship.

On Wednesday, the 24-year-old joined Hamilton at the top of the highest-paid F1 drivers list, agreeing to a multiyear deal with Red Bull Racing for a reported $53.3 million a year. 

With seven-time champ Hamilton in the final stages of a storied career at age 37, Verstappen’s meteoric rise positions him as the future face of Formula One.

  • At 17 years, 166 days, he became the youngest driver to compete in an F1 race (2015 Australian Grand Prix).
  • At 18, he won the 2016 Spanish Grand Prix to become the youngest F1 Grand Prix winner.
  • Verstappen’s 10 wins in 2021 snapped Hamilton’s streak of seven straight years with the most F1 victories.
  • He has a reported net worth of $60 million.

His stunning victory at the Abu Dhabi Grand Prix — in which he passed Hamilton on the last lap to win by 2.256 seconds — also made him the first Dutch F1 World Drivers’ Champion.

Verstappen will begin defending his title when the 2022 season kicks off March 20 at the Bahrain Grand Prix. 

But for at least one more season, Hamilton (+145*) remains the favorite for the championship over the young superstar (+285*).

This field is for validation purposes and should be left unchanged.

Sign up for
The Memo Newsletter

Get the biggest stories and best analysis on the business of sports delivered to your inbox twice every weekday and twice on weekends.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Amazon’s NASCAR Viewership Sees Slight Uptick in Second Season

Races on Prime Video averaged 2.29 million viewers this year.
Formula 1

Gucci Is Making a Big Bet on Sports

Gucci will be the title sponsor for Alpine Formula One team starting next year.
podcast thumbnail mobile
Front Office Sports Today

7/13/26 – Seahawks Sell for $9.6B, FIFA Looks to Expand WC to 64 Teams, McGregor’s 69-Second Return, Sinner Wins Wimbledon

0:00

Featured Today

What the World Cup Means to Erling Haaland’s Tiny Hometown

The tournament’s breakout star is from a rural Norwegian town.
July 10, 2026

Why So Many Media Outlets Are Rushing Into Sports

Sports coverage has ballooned in every corner of media.
Pillow Fight Championship
July 8, 2026

How Obscure Sports Get Mainstream TV Deals

For niche sports, getting on TV often matters more than getting paid.
ATLANTA, GA - September 05: Georgia Lottery fireworks after the game against the Seattle Mariners at Truist Park on Friday, September 5, 2025 in Atlanta, Georgia.
July 2, 2026

Inside the Spectacle and Science of MLB Fireworks

Postgame fireworks are lighting up baseball for America250.
Kansas City Chiefs
July 1, 2026

NFL Teams Push to Turn Futbol Fans Into Football Devotees

NFL teams are courting international soccer fans during their World Cup visits.
Cycling - Tour de France - Stage 9 - Malemort to Ussel - Malemort, France - July 12, 2026 UAE Team Emirates - XRG's Tadej Pogacar wearing the yellow jersey, UAE Team Emirates - XRG's Isaac Del Toro wearing the white jersey and Team Visma | Lease a Bike's Jonas Vingegaard wearing the polka-dot jersey in action as a spectator dressed in a costume cheers on during stage 9

Tadej Pogačar Says Heat Demands Tour de France Overhaul

Stage 9 was cut by 18.6 miles under a red alert.
July 11, 2026

Ohtani, Judge Both Out of MLB All-Star Game

The two superstars will miss the midseason showcase.
July 12, 2026

Sinner Defeats Zverev at Wimbledon, Claims $4.8M Prize

Sinner won his first Grand Slam tournament of the year.
Sponsored

Josh Childress: Why Now Is the Time for NBA Expansion

Josh Childress on why he invested in the Portland Thorns, the case for NBA expansion, and donating to Stanford NIL.
July 11, 2026

White Sox Take UCLA’s Roch Cholowsky No. 1 in Draft

The White Sox selected the two-time Big Ten player of the year.
Jul 10, 2026; London, United Kingdom; Jannik Sinner of Italy celebrates winning his semifinal match against Novak Djokovic of Serbia on day 12 at All England Lawn Tennis and Croquet Club
July 10, 2026

Jannik Sinner Reclaims Spot in Grand Slam Final to Vie for $4.8M

Sunday’s winner will claim the No. 4 spot on the career earnings list.
July 10, 2026

The Parity Era of Women’s Tennis Continues at Wimbledon

Karolína Muchová and Linda Nosková meet in the Wimbledon final Saturday.
July 8, 2026

Jessica Shepard’s $2M Stunner Has Become WNBA’s Biggest Bargain

Shepard was named a 2026 All-Star starter.