Mercedes is apparently ready to make a world-record £128 million annual offer to sign Max Verstappen as Lewis Hamilton’s replacement.

According to The Sun, Mercedes is willing to “break the bank” with an eye-watering offer to entice the three-time world champion away from rivals Red Bull.

Sir Jim Ratcliffe, the new manager of Manchester United and chairman of Ineos, is expected to “play a huge role in finding Hamilton’s replacement” following the seven-time world champion’s surprise decision to leave Mercedes for Ferrari in 2025.

Verstappen is now signed to a contract worth over £40 million per year until the end of 2028, but Mercedes is reportedly willing to more than triple the Dutchman’s income.

According to The Sun, such a move would require Mercedes to “stump up compensation” for Verstappen.

Mercedes is openly courting Verstappen, who is expected to win his fourth successive world title this year, after team principal Toto Wolff stated that the Brackley-based team would “love” to recruit the reigning world champion.

The eight-time constructors’ world champions want to capitalise on the present uncertainty surrounding Red Bull following the controversy involving team principal Christian Horner.

Adrian Newey, the famed F1 vehicle designer, has resigned from Red Bull, which was reported on Wednesday morning. He will leave in early 2025.

According to sources, Wolff, Mercedes-Benz CEO Ola Kallenius, and Ratcliffe aim to meet with Verstappen and his management following this weekend’s Miami Grand Prix to explore a potential move.

Wolff responded to the reports, telling Reuters television: “No, that is one of the rumors. People make up meetings and make up what’s going on with the drivers, but these things should be done behind closed doors, and everything that has been said thus far was not correct.”

Verstappen has frequently stated that he has no ambitions to leave Red Bull, but the news of Newey’s departure will certainly raise more questions about his future.