Red Bull Racing extends Sergio Perez's F1 contract through 2024

Red Bull Racing extends Sergio Perez’s F1 contract through 2024

Fresh off the Mexican driver’s victory at the Monaco Grand Prix, Red Bull Racing on Tuesday announced a two-year contract extension for Sergio Perez.

The deal means Perez will continue to partner reigning Formula One champion Max Verstappen through 2024. Verstappen is contracted to Red Bull through 2028.

“I am so proud to be a member of this team and I feel completely at home here now,” Perez said in a statement. “My relationship with Max, on and off the track, is definitely helping drive us forward even more.”

Red Bull Racing's Sergio Perez at the 2021 Formula One Azerbaijan Grand Prix

Red Bull Racing’s Sergio Perez at the 2021 Formula One Azerbaijan Grand Prix

Perez currently sits third in the F1 driver’s championship standings with 110 points after seven races. In addition to the Monaco win, he’s achieved three podium finishes and a pole position at the Saudi Arabia Grand Prix.

Perez joined Red Bull for the 2021 F1 season, initially on a single-season contract, after he was replaced at Racing Point by Sebastian Vettel, ahead of that team’s rebranding as Aston Martin. He took his maiden F1 win just before signing with Red Bull at the 2020 Sakhir Grand Prix.

His debut season with Red Bull included a second victory at the Azerbaijan Grand Prix and four other podium finishes. He finished fourth in the 2021 driver’s championship with 190 points.

2022 Red Bull Racing RB18 Formula One race car

2022 Red Bull Racing RB18 Formula One race car

Prior to joining Red Bull, Perez developed a reputation as a consistent performer who could make the most of lower-level cars. He joined F1 in 2011 with Sauber, managing 10 podium finishes and the single victory at the Sakhir Grand Prix before joining Red Bull.

The energy-drink-backed team has had a strong 2022 season so far. It’s currently leading the constructor’s standings, while Verstappen is leading the driver’s championship. Red Bull is now manufacturing its own power units instead of sourcing them from previous partner Honda. The design is the same as the 2021 power unit, and is licensed to Red Bull from Honda.