Spanish Report Claims Sergio Perez to Remain at Red Bull After Thumbs Up to $40 Million Sponsor

There have been rumors of Red Bull looking to sack Sergio Perez for almost a year now. His performances haven’t been up to the mark, and his big gap with leader and teammate Max Verstappen has not helped his cause. Yet, Perez has held on.

The latest reports from Spain suggest that Red Bull has no immediate plans to part ways with Perez, who currently sits P8 in the standings, 242 points behind Verstappen. Financial considerations have been cited as a reason for this decision.

Perez already brings with him to Red Bull, tens of millions of dollars per year and they are mostly from companies owned by Carlos Slim — one of the richest in the world.

Perez has a sponsorship lineup like this, we will be seeing him somewhere in F1 until 2030 at least pic.twitter.com/U2VopGO0XK

— Sebber ⏰ (@sebastianbaughh) June 4, 2024

At one stage this season, it was reported that Slim was considering parting ways with Red Bull. However, Marca (who reported that Perez will stay in 2025) revealed that the 84-year-old’s companies would remain partnered with the Milton-Keynes-based outfit.

Perez has secured a new sponsorship deal ahead of the 2025 season. And they will reportedly pump up to $40 million into the team — huge for Red Bull who are set to lose out on money in the Constructors’ Championship this season.

Perez’s huge backing from Mexico

The report did not reveal the name of Perez’s new aiders, but they will join Claro, Telcel, and Infinitum — all owned by Slim, who has supported Perez’s career from a very young age.

Perez is a hugely popular figure back home. Companies in Mexico use it to their advantage to market themselves, making the Guadalajara-born driver a huge commercial asset, not just to the brands, but to Red Bull and F1 as a whole. There is a notion that Perez has a big pull on the audiences in Mexico and the American races in Austin, Las Vegas, and Miami.

It seems that those betting on Perez leaving after the final three rounds of 2024 would be mistaken. He already signed a new deal with the Austrian squad midway into the 2024 season, and despite rumors of newcomer Liam Lawson replacing him, it looks as if Perez will get a shot at redemption at the turn of the year.