Sergio Perez and Red Bull Racing have agreed to a two-year contract renewal, keeping the 34-year-old in the team until the end of 2026. Despite an underwhelming 2023 and tricky 2024 season so far, Christian Horner has put his faith in Perez for the short term. This news has repercussions across the F1 market, with Carlos Sainz among those impacted by this news.
For some time, the consensus has been that Perez and Red Bull would agree on a contract extension. When the year began, Helmut Marko was adamant that a decision would not be made until the summer break. However, in the build-up to the Monaco GP – all indicators suggested a decision was already made.
The reigning Champions have opted for continuity in their driver lineup. This decision will undoubtedly be controversial, given Perez’s failure to compete at the front since McLaren and Ferrari’s updates.
There will be doubts that Red Bull’s duo will be enough against the driver combinations at Ferrari and McLaren. Leclerc and Sainz are closely matched, whilst the same can be said for Norris and Piastri.
SUZUKA, JAPAN – APRIL 06: Oracle Red Bull Racing Team Principal Christian Horner talks with Sergio Perez of Mexico and Oracle Red Bull Racing in the garage during qualifying ahead of the F1 Grand Prix of Japan at Suzuka International Racing Course on April 06, 2024 in Suzuka, Japan. (Photo by Mark Thompson/Getty Images) // Getty Images / Red Bull Content Pool // SI202404060223 // Usage for editorial use only //
RED BULL: PEREZ AND HORNER REACT TO THE EXTENSION
Team principal Christian Horner is confident this is the correct decision:
“Now is an important time to confirm our line-up for 2025 and we are very pleased to continue working together with Checo. Continuity and stability are important for the Team and both Checo and Max are a successful and robust partnership, securing our first ever one-two finish for the Team in the Championship last year.
“Checo has had a strong start to 2024 with second places in Bahrain, Saudi Arabia and Japan and then his podium in China. The past few races have been tough, there is convergence on the grid, but we are confident in Checo and look forward to his return to proven form and performance, that we so often see.
“Last year was a unicorn season, and we will need to work hard to retain our titles, but we are assured in our lineup and with the Team as a whole, which is imperative in what is shaping up to be a close-fought Championship this year.”
Sergio Perez has also released a statement on his renewal:
“I am really happy to commit my future to this great Team, it is a challenge like no other racing for Oracle Red Bull Racing, both on track and off track. I am delighted to be staying here to continue our journey together and contribute to this Team’s great history for two more years. Being part of the Team is an immense challenge, and one I love.
“We have a great challenge this year and I have full trust in the whole Team that the future is bright here and I am excited to be part of it. I want to thank everyone for all the trust they are putting in me, it is a lot and I want to pay it back with excellent results on track, and off track. I think we have a lot of work to do, we have a lot more Championships to win together.”
Elsewhere in the market, previously static pieces of the puzzle will fall into place. Sainz has lost his primary target for 2025, and will have to assess other options in the midfield. Sauber, Williams and – to a lesser extent – Alpine will begin making moves.
Although Perez’s extension means there will be more continuity than some observers anticipated, changes are still on the horizon.
