Monday, June 1, 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

Formula 1

Gucci Is Making a Big Bet on Sports

Gucci will be the title sponsor for Alpine Formula One team starting next year.

Max Verstappen’s Future Looms Over F1’s Return to Miami

F1 returns after a monthlong hiatus due to two canceled races.

F1’s New Era Hits Reset in Miami: How Will Teams Adjust to Rules?

Drivers have been unhappy about F1’s new regulations.

Featured Today

Frances Cabral-Delaney

How Arsenal Fandom Went ‘Manic’

“People do not become Arsenal fans because it’s easy,” says Zohran Mamdani.
May 23, 2026; Anaheim, California, USA; Fans participate in a tarp off during a MLB game between the Los Angeles Angels and the Texas Rangers at Angel Stadium
May 28, 2026

‘Tarps Off’: How Shirtless Fans Took Over MLB

The viral movement began with the SFA club baseball team.
Apr 6, 2026; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) walks to the on deck circle during the game against the Texas Rangers at Globe Life Field
May 28, 2026

Why Ballparks Are Louder Than Ever

Some stadiums sound like veritable nightclubs. How did we get here?
May 24, 2026; Evanston, IL, USA; Northwestern Wildcats attack Kathryn Ratanaproeksa (13) shoots against the North Carolina Tar Heels during the first half at Martin Stadium
May 26, 2026

Can Women’s Lacrosse Buck the Trend in College Sports?

The sport is fighting to prove its worth in the revenue-sharing era.

Shedeur Sanders Banked $17.7M in NFLPA Licensing Income

Sanders shattered the record set by Tom Brady in the 2021 season.
Jannik Sinner
May 28, 2026

French Open Favorite Jannik Sinner Suffers Second-Round Upset

It was 91 degrees Fahrenheit during the match.
Tennis - French Open - Roland Garros, Paris, France - May 28, 2026 Paraguay's Adolfo Daniel Vallejo in action during his second round match against France's Moise Kouame REUTERS/Guglielmo Mangiapane
May 29, 2026

French Open Fines Player for ‘Sexist’ Comments Toward Female Umpire

Vallejo said his female official couldn’t handle a “demanding crowd.”
Sponsored

The Hidden Economy of Race Weekend

Learn more about the Vintage Flying Museum and how Spectrum Business is helping them achieve their business goals while fueling their dreams.
May 26, 2026

French Open Organizers Meet With Players After Media Protest

Players are asking for 22% of revenue by 2030.
May 24, 2026; Las Vegas, NV, USA; Kristian Gkolomeev (GRE) poses with Enhanced co-founder Max Martin after setting a world record in the 50m freestyle of 21.81 during the Enhanced Games at Resorts World Las Vegas.
May 25, 2026

Clean Athletes Stole the Show at the Enhanced Games

Three clean athletes won events against performance-enhancing peers.
May 22, 2026

Sabalenka, Sinner Lead Coordinated Media Protest at French Open

The players are seeking increased revenue and improved benefits from Grand Slams.
May 22, 2026

Stafford Signs $55 Million Extension With Rams

The 2025 NFL Most Valuable Player receives a sizable pay increase.