Sergio Perez, buoyed by his strong performances in 2024, has requested a contract renewal with Red Bull. The Mexican driver reportedly wants a three-year extension on his $10 million annual salary. However, Red Bull, as per Helmut Marko’s latest update, remains apprehensive. This does not indicate that Red Bull is dismissing Perez’s future with the team. However, Marko and company believe the length of the contract Perez desires is excessive. As quoted by GP Blog, the Austrian stated, “The fact that Marko said they are looking for a solution hints towards Red Bull wanting Perez to extend his deal.”
The Guadalajara-born driver has been in brilliant form this season, delivering on Red Bull’s expectations. With four podium finishes in five races, Perez sits second behind teammate Max Verstappen in the Drivers’ Championship Standings. Yet, Red Bull will not rush into offering Perez a new contract, particularly a three-year deal. In 2023, Perez secured two wins in four races but endured a significant performance decline after the fifth round in Miami. The Austrian team seeks to ensure that Perez will not experience a similar drop in form before guaranteeing him a seat in 2025.
Furthermore, Red Bull’s interest in other drivers, including Carlos Sainz (who becomes a free agent after 2024), complicates the situation for the 34-year-old. Sainz is also seeking a new team, and the prospect of driving for Red Bull, currently the sport’s most dominant team, could be alluring for the Madrid-born driver.
Sergio Perez plays the ultimate team game for Max Verstappen
Sergio Perez recognizes that to secure his future at Red Bull, he must maintain his high level of performance. Red Bull’s rivals (primarily McLaren and Ferrari) are closing the gap, and if Perez experiences a performance dip similar to last season, Red Bull could lose its hold on the Constructors’ Championship. Perez has also accepted his role as the secondary driver at Red Bull. While the Milton-Keynes-based outfit initially hired him for this purpose, in 2022 and 2023, he attempted to challenge Verstappen for the championship. As Marko revealed, Perez is now focusing primarily on himself, which has significantly aided his performance. Even Sergio Perez’s father acknowledges that his son is the “second-best driver in the world,” contradicting his championship aspirations expressed just 12 months ago.
If Perez continues to be the ideal teammate to Verstappen, there is little reason for Red Bull to part ways with him.
