The 27-year-old has won four consecutive championships with the Milton Keynes-based outfit, but is looking unlikely to be able to claim a fifth in 2025, with McLaren drivers Oscar Piastri and Lando Norris appearing as the clear favourites for this year's title.
Red Bull's performance drop-off has caused some frustration for Verstappen, although he has not officially stated that he is considering other options for the 2026 season.
The main two teams that have been linked with acquiring Verstappen's signature have been Mercedes and Aston Martin, although the Dutchman has also been rumoured to be considering a break away from the sport altogether in 2026.
Now, former Dutch F1 driver Robert Doornbos - who raced with Red Bull for three races in 2006 - has told Ziggo Sport's Race Cafe that Mercedes team principal Toto Wolff is holding off from offering his two current drivers a new contract because of the potential availability of Verstappen.
"Wolff still hopes that Max will say to Red Bull: 'Guys, it was fun, we tried this year, we're not going to become champions, that's clear. I think we made a beautiful story together,'" Doorbos said.
Both Max Verstappen and George Russell have been linked with moves to Aston Martin too
"Four times world champion, no one would have dared to write the boy's book in this way. You win the first race and you become champion four times. 'It's over with the dominance, I'm moving on to the next chapter'.
"I'm sure something will happen this year and George Russell can wait a very long time for a contract. I don't think Max will be driving a Red Bull next year."
Will Verstappen leave Red Bull?
While Russell and Kimi Antonelli are both set to be out of contract at the end of the 2025 season, it is expected that both will soon be offered long-term contract extensions.
Wolff and Russell have proclaimed that there is no rush for them to sign new deals, while Aston Martin have also told GPFans that they will honour both Fernando Alonso and Lance Stroll's contracts which do not expire until the end of 2026.
Therefore, the only option for Verstappen should he want to leave Red Bull at the end of 2025 would likely be to take a sabbatical from the sport, something which some pundits have suggested is a possibility.