Perez secures two-year contract extension with Red Bull

On the eve of this weekend's Canadian Grand Prix, Red Bull have announced that Sergio Perez has committed his future to the Anglo-Austrian team with a two-year extension to his existing contract.

Since joining the Milton Keynes-based squad at the end of 2020, Perez has enjoyed his most successful seasons in Formula One, finishing the 2023 season in second place in the Drivers’ Championship, the first time Red Bull had ever achieved a one-two finish in the Championship.

The 34-year-old driver has won six races of which he achieved five victories with Red Bull. He has secured 29 podium finishes, and three pole positions with Red Bull over the last three years.

The current season has been rather contrasting and challenging for the Mexican. He enjoyed a promising start to the year, securing two second-placed finishes in the opening two round before struggling for pace in Australia where he took 5th.

With Red Bull enjoying a dominant form in Japan, Perez bounced back to finish in P4 before ending the Shanghai race on the lowest step of the podium.

However, he struggled for pace in Miami, and crossed the finish line in only P5 before he was promoted to P4 thanks to a time penalty for Ferrari's Carlos Sainz. He displayed a disappointing performance in Imola, failing to secure a starting position in the top ten, and he only ended up 8th at the Emilia Romagna Grand Prix.

The last round in Monaco saw Perez fail to qualify higher than P18. With the challenging layout of the Monte Carlo layout offering hardly any overtaking opportunities, Perez was always going to face a challenging afternoon, but his race ended at the first corner due to a collision with Haas driver Kevin Magnussen.

Perez is now fifth in the Drivers' Standings, sitting on 107 points compared to his team-mate Max Verstappen's tally of 169 points.

Commenting on his new contract, Perez said: “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.”

CEO and Team Principal, Christian Horner added: “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 line up and with the Team as a whole, which is imperative in what is shaping up to be a close fought Championship this year," Horner said.