MARCH 14, 2011

Vettel signs contract extension with Red Bull through 2014

Red Bull Racing has announced that it has reached an agreement with World Champion Sebastian Vettel to stay with the team through 2014.

Red Bull Racing has announced that it has reached an agreement with World Champion Sebastian Vettel to stay with the team through 2014.

Vettel has been supported by Red Bull since he was 11 years-old, in 1998, with the Red Bull Junior Team, and his current contract was due to expire at the end of the 2012 season. Although the details of the new deal have not been made public, it is believed that Vettel will be paid 10m Euros in 2013, with an automatic option in 2014, as long as the team maintains a certain level of competitiveness, with his pay rising to 12m Euros.

Vettel was the youngest driver to win a grand prix in 2008, and is also the youngest-ever World Champion.

Vettel's team mate Mark Webber has a contract that runs through the end of the 2011 season.