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By Saajan Jogia
Sports Contributing Writer
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George Russell and Mercedes are said to be finalizing a multi-year contract extension, valued at £30 million (approx. $40 million as per current exchange rates) per annum. The report from the Daily Mail arrives amid news that Max Verstappen will race for Red Bull in 2026.
The last few weeks saw several rumors about the four-time world champion's potential move to Mercedes in 2026, given the challenges he faces at Red Bull, and also considering the big change in regulations next year. This, despite his Red Bull contract expiring at the end of 2028.
However, the exit clause in Verstappen's Red Bull contract has not been activated, according to the report, which required him to be below the top three drivers in the Drivers' Standings before the summer break. With the current gap of 28 points to Russell, who is in P4, Verstappen will remain in P3 after next weekend's race at the Hungaroring.
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Russell admitted ahead of the Belgian GP that there were fewer chances of his contract extension negotiations taking place before the summer break, which begins after this weekend's Hungarian GP. However, it now appears that he and Mercedes have agreed on the main terms of the contract.
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Only a few points remain to be finalized, like the number of sponsor appearances Russell will have to make. Mercedes is reportedly keen on signing the contract before the summer break, but it remains to be seen whether Russell's legal advisors will approve the signing in such a short span of time.
With the major reset in F1 next year as the sport enters a new era of regulations with new cars, Mercedes has decided to secure Russell for the future with a multi-year contract extension. Given the delay in talks about the new deal, Russell said that he used the mini break before the race at Spa-Francorchamps to de-stress. He chose to ignore the noise around his contract and is currently focusing on his performance. The Briton said:
"And as I said, these last months of going from the position where I was stressed about my future and I was concerned about it, and I've continued to perform — I just think it's in my own hands, so there's no point losing sleep about it.
"Mercedes need the best drivers in their race car. And I believe that I'm right up there. I don't think there's many people doing a better job than I am. So, you know, I need them and they need me — and that's how it goes."
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