Red Bull Rumored to Hit Sergio Perez With Reduction in $10,000,000 Salary Despite the Mexican Boosting His Team’s Business by 65%

Despite a solid start to the season, Sergio Perez went through a rough patch of form leading up to the summer break. The Mexican driver has cost Red Bull some valuable points in both the driver’s and constructor’s categories, but his contribution to other aspects of the sport has proven invaluable to Red Bull. While he is rumored to suffer from a pay cut that will downgrade his $10,000,000 salary, courtesy of a ‘special clause’ in his contract, Checo is still responsible for bringing in 65% of Red Bull’s online sales.

Owing to multiple errors during qualifying rounds made by Perez, and his significant gap to Max Verstappen in terms of performance, the 33-year-old has faced a lot of criticism. He is currently second in the driver’s championship, 125 points behind the leader, Max Verstappen. Unfortunately for him, as per a special clause in his contract with Red Bull, Perez could be subject to a salary deduction if he were to be behind his teammate by 125 points or more.

Perez’s subpar performances have also raised speculations about him being replaced by Red Bull’s third driver, Daniel Ricciardo. But his contract does not stipulate a condition where this might be possible, putting those rumors to rest for now. Given the financial leverage he holds over the team, getting rid of Perez might not be a smart move by Red Bull.

Sergio Perez responsible for over 65% of all Red Bull’s online sales

Sergio Perez stands as the most successful Mexican driver F1 has ever seen. Consequently, he stands out as the face of the sport in Latin America. In fact, his influence in his home country is so huge that Mexico buys 65% of all Red Bull’s online merchandise.

 

🗣️ | Crofty gives new details on Checo’s selling power

“Checo helps sell a lot of cans of Red Bull, in North America and in Latin America. He brings a lot of sponsorship money to the team, which is important, even in these cost cap times.

Something like 65% of all online Red… pic.twitter.com/akNACmpnku

— RBR News 🇳🇱🇲🇽 (@redbulletin) August 5, 2023

Apart from online sales, Checo also brings in a massive amount of revenue for Red Bull in terms of endorsement deals. The 33-year-old helps bring in millions of dollars through a variety of deals.

Perez’s endorsement deals also help Red Bull increase their revenue

Last year, Perez pocketed $1.3 million as he became Jalisco’s brand ambassador and promoted tourism. Other brands such as Telcel, Telmex, Xades, Tag Heuer, Kavak, Banorte, and Unfin appear on his shirt, boosting Red Bull’s revenue. The money earned through these deals helps Red Bull invest in better R&D for their car, thus developing a nearly undefeatable machine.

 

🚨 Red Bull want to keep Sergio Perez till the end of his current deal as at the moment Max is winning both Driver’s and Constructor’s titles on his own

However, Red Bull could make a change next year if Perez doesn’t do a good enough job

[@joesaward] #F1 pic.twitter.com/0Dttd6PaV9

— RBR Daily (@RBR_Daily) August 2, 2023

Still, the machine mentioned above has yet to see similar success with Sergio Perez as it has with Max Verstappen. While Verstappen has won eight races on the trot, the Guadalajara-born driver has failed to maintain consistency. This has proved to be a cause for concern among the people working at Red Bull. If things don’t improve for him, it could also lead to him being replaced after the expiration of his contract.