Perez signs two-year extension to Red Bull F1 contract
Sergio Perez has signed a two-year contract extension with the Red Bull Formula 1 team, taking his new deal until the end of the 2024 season.
Perez was drafted in by Red Bull for the 2021 season to replace Alex Albon and while he struggled to match teammate Max Verstappen and only took five podiums to Verstappen's 18 - with one win - the Mexican did enough to trigger a one-year contract extension.
In 2022 Perez confirmed that Red Bull's confidence was justified as he became the dependable points scorer Red Bull had been looking for. Following a mechanical retirement in Bahrain, the 32-year-old hasn't finished lower than fourth and took four podiums, including a win last weekend in Monaco.
Perez appeared to misspeak at the podium ceremony, telling team boss Christian Horner "I signed too soon" and two days later the team has now confirmed Perez will stay on.
Rather than signing another one-year deal, Perez now gets a two-year deal that will see him partner Verstappen until the end of the 2024 season.
“For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the team until 2024 just makes me extremely happy," Perez said.
"I am so proud to be a member of this team and I feel completely at home here now. We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more.
"We have built tremendous momentum as a team and this season is showing that, I am excited to see where that can take us all in the future.”
Perez now sits third in the drivers' championship with 110 points after seven races, which is already more than half of the 190 he scored last year.
Horner praised Perez for his improved form and acknowledged that he was ticking all the boxes for the partnership to continue.
"Time and again he has proved himself to not only be a magnificent team player but as his level of comfort has grown, he has become a real force to be reckoned with at the sharp end of the grid," Horner explained.
"This year he has taken another step and the gap to world champion Max has closed significantly, evidenced by his superb pole position in Jeddah earlier this year and by his wonderful win in Monaco just last weekend.
"For us, holding onto his pace, race craft and experience was a no-brainer."
Perez first made his F1 debut in 2011 with Sauber and has since racked up 1006 career points. In addition to his two Red Bull wins in Baku last year and in Monaco, he took a maiden win with Racing Point at the 2020 Sakhir GP. In March he took his maiden pole at the Saudi Arabian GP.
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