Sebastian Vettel extends at Red Bull until 2014

His current contract was only set to run until the end of the 2011 season with only an option for 2012, and paddock rumors quickly linked him to Ferrari. But Sebastian Vettel has decided to extend his contract with the team that made him world champion: Red Bull. The new agreement is now valid until 2014.

It must be said that he has been under contract with the Austrian firm since his early childhood, as he signed his first contract with Red Bull in 1998 and subsequently pursued his entire career within the Red Bull Junior Team.

This extension will allow the youngest world champion in history to achieve an excellent financial deal. Last year, his annual salary was estimated at two million dollars, plus championship, victory, and points bonuses. This salary placed him twelfth in Formula 1, the same as Heikki Kovalainen at Lotus…

According to the popular German newspaper Bild, the new agreement should allow him to earn a fixed salary of 12 million euros over the next four seasons. If we add the previously mentioned bonuses, there is a strong possibility that the current contract amounts to a total of 50 million euros over four years. Not to mention the individual advertising agreements that the new star will now be able to sign. He has already started this by signing a deal with the shampoo brand Head&Shoulders.

Nevertheless, the agreement, officially announced today by the team, is not a new contract but the extension of the contract renewal option. Thus, if the German driver is in the top 3 of the championship with at least two wins to his name, his contract for the following season is automatically renewed. This allows him to maintain pressure on the team to provide him with a competitive car. Consequently, Adrian Newey’s contract should also be extended for the same term to maximize the team’s chances.

With the participation of RacingBusiness.fr