Red Bull team principal Christian Horner on Saturday claimed that the deal to extend the contract of their No 1 driver Sebastian Vettel was "perfect timing". Red Bull on Tuesday confirmed the three-time World Champion Vettel had agreed to a one-year extension, end of 2015.
Vettel, who is with Red Bull since 2009, has claimed 29 victories, 39 pole positions, and clinched three successive championship titles since 2010.
"It was more of a formality than anything else. We have a long-term agreement with him. It was perfect timing for both sides to extend for another year," Christian Horner said.
The announcement surprised everyone as to why the world number one has signed a deal with the team for one more year. "The details of the contract are always going to be confidential, added Horner.
"The fact that he has signed this extension shows his commitment to Red Bull, and hopefully the relationship will go beyond 2015. He's been part of the Red Bull family, since starting out as a junior, for more than 12 years now, so he's grown up with Red Bull."
Earlier, Vettel was linked with a move to Ferrari but their team's president Luca Di Montezemolo said in February that he would not be joining them as long as Alonso was there.