F1 Live | Verstappen confirms 2026 stay with Red Bull, Vasseur recieved 'multi-year' contract extension

Welcome to GPblog's daily Formula 1 news liveblog! Check back periodically throughout the day to catch up on important news for August 1st that you may have missed!

Verstappen to stay with Red Bull Racing in 2026

Max Verstappen has laid the Mercedes rumours to rest with the confirmation he will be staying with Red Bull Racing for 2026. On media day in Hungary, Verstappen told GPBlog and others, "Time to stop the rumours: my intention was always to stay." 

While rumours have been swirling over the past few months surrounding Verstappen's future at Red Bull, he doubled down, saying that it was always his intention to stay. George Russell previously confirmed talks between the verstappen camp and Toto Wolff during the Canadian Grand Prix weekend. However, that's all they were: talks. 

Verstappen's current contract with the Milton keynes based team runs until 2028. As of two weeks ago, Red Bull Racing brought in Laurent Mekies as their new team principal (and now CEO). The dutchman will continue with this team for the forseeable Formula 1 season. 

Vasseur receives Ferrari contract extension

Earlier today it was announced that current Ferrari team principal would stay just that. In the press announcement Ferrari said, "Scuderia Ferrari HP is pleased to announce that it has extended, with a multiple-year contract, its agreement with Fred Vasseur, who will continue as Team Principal of Scuderia Ferrari HP for the coming Formula 1 seasons." 

This move by Ferrari was highly supported by both drivers. In the FIA press conference, Charles Leclerc said that he was "very, very happy" to have Vasseur remain with the team. 

Lewis Hamilton was the same. Speaking to GPBlog and others, Hamilton said, "There's nothing else to add. I told you before that it was the right choice. Fred signed me here. I've been wanting to work with him."