Max Verstappen is reportedly earning a base salary of $50m (or £37.3m) per year under his Red Bull contract. That matched Lewis Hamilton’s Mercedes earnings, prior to bonuses.

Verstappen signed his deal in March 2022, shortly after he became F1 world champion for the first time. That huge contract runs until the end of 2028.

But there are major doubts over whether the Dutchman will fulfil that deal. Verstappen’s contract contains exit clauses that are tied to the competitiveness of his Red Bull car.

Verstappen’s release clauses become more favourable as his contract goes on. Some believe Red Bull would honour his wishes if he asked to leave regardless, but he is by far the team’s biggest asset.

Mercedes have presented Max Verstappen with a ‘ballpark figure’ for 2026

Speaking on ESPN’s Unlapped podcast, journalist Nate Saunders offered an indication of how far Mercedes have progressed in talks with Verstappen. They are the only team who could tempt him away for next year.

Saunders says Mercedes have presented the broad financials to the reigning world champion. Without Red Bull’s permission, he couldn’t sign a contract unless his exit clause becomes active.

There was ‘frustration’ from Verstappen’s camp in 2023 that he didn’t receive his full win bonus after his 12 victory (he won a record 19 Grands Prix that year). That’s something Toto Wolff could look to rectify.

“From what I understand, Verstappen and his camp know roughly the kind of ballpark figure Mercedes might offer if a deal was forthcoming,” Saunders said. “That doesn’t mean one is forthcoming. The idea that they’re doing this two weeks before the summer break? I don’t quite buy it.”

“He cannot sign anything until the start of the summer break. When that chequered flag drops at the Hungarian Grand Prix, if he’s fourth [in the championship], from what I understand, that would open that up to him.

“If he’s third when the Hungarian Grand Prix finishes, it doesn’t matter what he’s signed or what he wants to do. He physically can’t leave.

“The Verstappen deal was a reported $50m a year, which at the time brought him level with Lewis. But you might look at that now, especially if you’re Max and say, ‘Well I’m a four-time world champion now, the sport is worth way more money than it was before’.

“I remember hearing in 2023 that the bonuses that were attached to Max’s deal actually capped out at about 12 wins. He was winning races that year when he went on that amazing run, and towards the end, suddenly he wasn’t getting anything.

“There was a frustration in the camp of ‘well actually, this deal we’ve signed now, we’d like to get a new one’.”

Max Verstappen may see no way back for Red Bull after what happened at Silverstone

Mercedes insist Wolff and Verstappen didn’t meet in Sardinia last week, even though both visited the Italian island. Saunders believes that extensive talks had already taken place beforehand.

If indeed Verstappen’s contract requires him to be in the top three, then Red Bull must hope he stays ahead of George Russell – currently 19 points behind. Ironically, Russell is the driver at risk of losing his seat.

Ralf Schumacher suspects Verstappen has lost faith in Red Bull after their British GP weekend unravelled. Verstappen went from pole to fifth after a spin, damned by a hyper-aggressive set-up.

Following the seismic departure of Christian Horner, Verstappen’s demeanour during his media duties in Belgium may offer a clue as to his intentions. But he is perhaps the most guarded driver in the entire paddock.