F1 Rumor: Mercedes Offer Max Verstappen Eye-Watering Sum to Replace Lewis Hamilton

Alex Harrington | May 1, 2024

Oct 22, 2023; Austin, Texas, USA; Red Bull Racing Honda driver Max Verstappen (1) of Team / Jerome Miron-USA TODAY Sports

Mercedes has reportedly offered Max Verstappen an unprecedented £128 million per year to join their team. The offer comes as Adrian Newey, CTO of Red Bull, confirms that he is leaving the Milton Keynes outfit.

Mercedes-Benz has made a record-breaking proposal to Red Bull Racing’s star driver, Max Verstappen. According to The Sun newspaper, the offer amounts to a staggering £128 million annually, potentially making Verstappen the highest-paid driver in the history of Formula 1. This monumental figure surpasses current benchmarks by a significant margin and sets a new high in the sport's financial engagements.

This bold move by Mercedes signals their intent to return to the front of the grid. The negotiation team spearheading this initiative includes notable figures such as Toto Wolff, the team principal of the Brackley squad, Ola Källenius, CEO of Mercedes-Benz, and Sir Jim Ratcliffe, a prominent shareholder of INEOS and co-owner of Manchester United. The involvement of such high-profile stakeholders highlights just how serious Mercedes is in bringing Verstappen into their fold.

The potential shift from Red Bull to Mercedes for Verstappen isn't solely based on financial allure. It follows a period marked by internal discord within the Red Bull camp, notably surrounding allegations directed at team boss Christian Horner. Although Horner has been cleared of these allegations, the controversy seems to have left its mark with Newey, a key figure in the success of the team, confirming his leaving today.

Jos Verstappen, Max's father, and his manager Raymond Vermeulen are said to be exploring options keenly due to a growing dissatisfaction with Horner’s management style and the internal divisions it supposedly caused within the team. Horner, on his part, has expressed that he would not obstruct Verstappen’s decision should he opt to switch allegiance to Mercedes, despite the Dutchman being under contract with Red Bull through 2028. This contract, worth £40 million a year, includes clauses that would require significant compensation should Verstappen leave prematurely.

Looking deeper into the motivations for Verstappen’s potential move, sources suggest that internal dynamics at Red Bull have become a critical factor. The fissures within the team, partly due to managerial decisions and leadership styles, have led to discomfort within the team’s ranks, influencing Verstappen and his close circle to reconsider his long-term future. This reassessment aligns with the timing of Mercedes’ lucrative offer, providing a viable exit strategy should Verstappen choose to take it.