Vettel nets €7m Red Bull extension

SEBASTIAN VETTEL has secured a significant pay rise in committing himself to Red Bull Racing — and after surprisingly handling his own contract negotiations.

On the day Lewis Hamilton announced signing with Simon Fuller’s new company, XIX Entertainment, to oversee his management affairs, Red Bull Racing boss Christian Horner has described Vettel’s attitude in signing a three-year contract extension as “refreshing”.

It has culminated in Vettel’s rise, yet with Horner admitting Red Bull could not afford Hamilton’s €11.5m-a-year salary with McLaren, the figure is likely to be around €7m.