Sergio Perez has signed a two-year contract extension with Red Bull, keeping him with the team until the end of the 2024 season.
The Mexican was signed in 2021 in place of Alex Albon but was only handed a one-year contract, and after a solid if unspectacular first season with the team that deal was renewed to include 2022.
However, a strong start to the new era has seen Perez score three second places and then win in Monaco this Sunday, leaving him just 15 points off the championship lead and convincing Red Bull to cement its lineup for the next two and a half years.
“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 had let slip that he had agreed an extension after joking to Christian Horner that he “signed too soon” on the podium in Monaco, and the Red Bull team principal says he has been impressed by how much the 32-year-old has improved compared to teammate Max Verstappen.
“Since joining Red Bull Racing, Checo has done a fantastic job,” Horner said. “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.”