Sergio Perez has been handed a new two-year deal by Red Bull keeping him at Formula One’s world-championship winning team until the end of the 2026 season.
The 34-year-old Mexican’s contract was up for renewal at the end of the season but his latest extension will see him extend his stay with Red Bull into a sixth campaign.
Max Verstappen is under contract with Red Bull until 2028, and the Dutchman has stated his intention to see out his deal despite interest from Mercedes against the backdrop of the controversy which engulfed team principal Christian Horner at the beginning of the year.
“I am really happy to commit my future to this great team,” said Perez following the announcement of his new deal.
“It is a challenge like no other racing for 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.”
Perez, who is fifth in the standings, 62 points behind team-mate Verstappen ahead of this weekend’s Canadian Grand Prix, continued: “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.”
Since he joined Red Bull in 2021, Perez – a six-time race winner – has proved an able deputy to Verstappen and his renewal provides stability to a team rocked by Adrian Newey’s decision to leave.
Red Bull have dominated F1 for the past two-and-a-half years, but their supremacy has come under threat in recent rounds with McLaren’s Lando Norris winning in Miami last month, while Charles Leclerc triumphed for Ferrari at the previous race in Monaco.
Perez’s renewal also ends the possibility of Carlos Sainz returning to Red Bull, with the Spaniard on the lookout for a seat ahead of Lewis Hamilton’s blockbuster switch to Ferrari in 2025. Audi or Williams appear the likely destinations for Sainz.
“Now is an important time to confirm our line-up for 2025 and we are very pleased to continue working together with Checo (Perez),” said Horner.
“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.”