Red Bull Rejects Perez’s 3-Year Contract Extension

Red Bull has turned down Sergio Perez’s proposal for a three-year contract extension, citing strategic concerns and his recent performance trends.

Dr. Helmut Marko made it clear in Shanghai that Red Bull had turned down a three-year contract extension request from the Mexican driver—but he’s not out of the running to keep a seat alongside Max Verstappen next year.

“It makes me happy that Sergio is performing better in this first part of the season than he did a year ago,” said the team advisor.

“He wants to stay with us, he proposed that we sign him for three years but it’s not possible to sign for that long.”

“Checo no longer participates with the desire to beat Max at all costs. What I mean by that is in 2023, he almost desperately followed his own path when the speed wasn’t right, to try and get closer to Max using a different setup but he has given that up because it wasn’t working.”

Red Bull does not want to sign with the Mexican for an extended period. Marko insists that he still has concerns about Perez’s qualifying pace.

“And when he doesn’t start from the front, when he’s stuck in traffic, he’s less able to use his qualities as a very good tire manager.”

Marko also once again praised Lando Norris, who is under contract at McLaren, for the fourth time in a few weeks.

“He’s making a strong impression and he’s managing Oscar Piastri better than last year.”

Thus, Marko left China admitting that talks with Perez were ongoing but the tense internal situation at Red Bull could change all scenarios if the now very likely departure of Adrian Newey triggered a chain reaction, starting with the departures of Marko and Verstappen.

Sergio Pérez’s father, however, says he has no fear that his son will be excluded from the Formula 1 grid in 2025 and beyond.

“Look at (Fernando) Alonso,” said Antonio Pérez Garibay, a Mexican politician.

“Checo can be in F1 for another ten years.”

“Checo has many scenarios. He is the most coveted driver in F1 today (sic), and the one with the most sponsors – more than Max and (Lewis) Hamilton combined.”

“Companies from all over the world count on him. None of his products ever remain because they always sell out very quickly.”