Sergio Perez is to remain a Red Bull driver until at least the end of 2024 after singing a two-year contract extension.
Perez looked to be heading towards the Formula 1 exit door at the end of 2020 when it was confirmed he would be replaced by Sebastian Vettel at Racing Point.
But Red Bull threw him a lifeline when it offered him a seat alongside Max Verstappen last year, where he played a key support role in Verstappen’s championship-winning season.
After a fourth place finish in the drivers’ standings with one victory in Baku and four further podiums, Perez has risen to a new level this year – making his best-ever start to a season.
The Mexican sits third in the title race, claiming a maiden pole position in Saudi Arabia, as well as four top-three finishes that includes his victory at the Monaco Grand Prix last weekend.
With Red Bull now having a secure driver line-up for the next two seasons, team boss Christian Horner explained why it was a “no-brainer” to retain Perez.
“Since joining Oracle Red Bull Racing, Checo has done a fantastic job,” said Horner. “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.
“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 and we are delighted that Checo will continue to race for the team until 2024. In partnership with Max we believe we have a driver pairing that can bring us the biggest prizes in F1.”
Perez, who’s win in Monaco made him Mexico’s most successful F1 driver of all-time, said he now feels “at home” in the team and is targeting more success this year.
“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.”
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