Sergio Perez has secured a new contract to keep him in one of the most desirable seats in Formula 1. He’ll remain at Red Bull for a fifth straight season in 2025.
Perez’s future has never really been in serious doubt even as he approached the expiry of his deal. Red Bull naturally had a look at Carlos Sainz, a free agent after Lewis Hamilton signed for Ferrari, but they were wary of reigniting his tense relationship with Max Verstappen from their Toro Rosso days.
Christian Horner also showed an interest in Alex Albon, the man who lost his seat to Perez at the end of 2020 but has rebuilt his reputation at Williams. Albon, however, has signed a new multi-year deal at Grove.
Normally, Red Bull’s first port of call when it comes to drivers would be junior team RB. Sebastian Vettel, Daniel Ricciardo, Daniil Kvyat, Verstappen, Pierre Gasly and Albon have all made that jump in the past.
Ricciardo started the year looking like a ‘dead-cert’ to return to the team if he delivered. But his underwhelming form has left him more focused on keeping his RB drive.
Yuki Tsunoda, on the other hand, has been highly impressive, scoring 19 of the team’s 24 points. However, Red Bull bosses have concerns over his temperament and his consistency.
Sergio Perez wanted a longer contract than Red Bull were prepared to give
Perez’s form at the start of the year put him in a strong position to negotiate with Red Bull. He finished second behind Verstappen at three of the first four races, and it would have been four of the first five had he not got unlucky with the timing of a safety car in China.
This was exactly what Red Bull needed from their second driver. But he’s struggled since, failing to reach Q3 at either of the last two races and scoring just four points.
This may have undermined Perez’s chances of securing a longer-term guaranteed deal. Helmut Marko revealed in April that he’d asked for a further three years.
It’s still unclear whether the final version of the contract guarantees a second year, or whether Red Bull have a break clause at the end of 2025. Journalist Nate Saunders, speaking on ESPN’s Unlapped podcast, says this has been a ‘sticking point’ in the talks.
“I was actually told in Monaco by somebody who’s pretty well connected with the team that it was a one-plus-one deal,” he said. “It’s been a sticking point I think for Perez.
“He’s wanted that stability for obvious reasons – you have a one-plus-one deal, it’s effectively a one-year contract because that one-year extension is on the side of the team, and you basically have to prove to them again that you’re worth that second season.”
Damon Hill names the one thing that’s ‘no good’ about Perez
The outlook at Red Bull could be very different in a year’s time. There’s ‘chatter in the paddock’ that Verstappen could leave, with Mercedes his most likely destination.
That could have ramifications for the future of Perez, depending on the specifics of his contract. They’d have to decide whether to retain him for stability or push for two elite drivers to maximise the team’s total points, potentially trying to recreate the Hamilton and Charles Leclerc dynamic at Ferrari.
Indeed, Damon Hill has questioned the reliability of Perez. He says his current deficit to Verstappen is ‘no good’ because it’s leaving the team ‘one-legged’.
Ferrari have closed to within 24 points in the constructors’ after scoring a double podium in Monaco amid Red Bull’s woes. Leclerc, meanwhile, is 31 points away from Verstappen in the drivers’, and the Dutchman could use a rear gunner to help relieve the slowly mounting pressure.
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