Sergio Perez Re-Signs With Red Bull Through 2024 Season

After becoming the first Mexican driver to win three Formula 1 races with a victory at this past weekend’s Monaco Grand Prix, Sergio Pérez inked a contract extension with Red Bull Racing, the team announced Tuesday. 

Pérez and Red Bull have agreed to a two-year extension to his existing contract that will keep him in the car alongside reigning World Champion Max Verstappen through 2024. 

“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,” Pérez said in an official release. “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.”

Pérez joined Red Bull at the end of the 2020 season and quickly had his most successful showing in F1 the following year. He finished in fourth place in the 2021 Drivers’ Championship with 190 points, claiming victory at the Azerbaijan Grand Prix and getting on the podium in four races.

In 2022, Pérez has upped his performance once again and currently finds himself third in the Drivers’ Championship, only 15 points behind Verstappen. With just seven races of the season completed, the 32-year-old has amassed 110 points and four podium finishes. At the Saudi Arabia Grand Prix, he became the first driver from Mexico to earn pole position and followed that up with a win at this past Sunday’s Monaco GP.

“Since joining Oracle Red Bull Racing, Checo has done a fantastic job. 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,” Red Bull Racing Team Principal and CEO Christian Horner said in a statement. 

“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.”