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.

Vettel, who previously only had an option for next year after this season, will remain with Red Bull through to the end of 2014, with the deal ending recent speculation that had linked the 23-year-old German to Ferrari and Mercedes.

Horner felt it imperative the team put an end to all the gossip to ensure Vettel remained focused this season on attempting to retain his title, and not have his head turned by other offers.

Horner said: “We decided to pre-empt the end of his prior agreement and address the future, which was mutual from both sides.

“Ultimately it was down to Dietrich (Mateschitz, Red Bull co-founder) and Sebastian to thrash out the final details. It was something that came together very quickly.”

Asked if he was aware of any approaches having been made, Horner added: “I’m sure he had loads of approaches and enquiries.

“But he didn’t take any of them seriously, and that was one of the reasons why we wanted to get this finalised and announced before the start of the year to avoid speculation during the season.”

It was the fact that Vettel sat down and thrashed out the new deal personally with Mateschitz that most impressed Horner.

“Some of the older drivers do it, but it’s very rare for a younger driver to do that,” said Horner. “For somebody so young, to be in control of his own destiny in the manner that he has been, is very refreshing.

“He doesn’t have a big management group or organisation telling him what to do and when to do it. He makes his own decisions.”

Horner has also confirmed technical guru Adrian Newey has committed himself to the team for the same timeframe as Vettel.

Newey has been the brains behind Red Bull’s astonishing rise from start-up team to champions in just six years.