After several underwhelming results, Red Bull finally took the difficult decision to part ways with Sergio Perez. Many experts claimed that the Milton Keynes-based outfit took so long to part ways with the Mexican because of the money factor and now the team’s advisor Helmut Marko has confirmed the same.
“Within the terms of the contract, an acceptable result was found for both sides,” the Austrian replied in an interview with RTL when asked if it was expensive for Red Bull to part ways with Perez. When asked if it cost them a few million, Marko replied, “It’s Formula One, so yes,” but he still did not reveal the exact number.
In a recent interview with RTL, Helmut Marko covered how Red Bull dropping Sergio Pérez called for finding “an acceptable result” for both sides. A result that came in the form of a multi-million dollar price tag. #F1 #FormulaOne pic.twitter.com/P51MDoS59L
— Pit Debrief (@PitDebrief) January 4, 2025
2016 F1 champion Nico Rosberg believes that the amount Red Bull had to pay Perez was a whopping $16 million since the 34-year-old still had a full year remaining on his contract. However, with Red Bull losing $18 million for losing the Constructors’ title and dropping to third last year, they perhaps made a wise decision.
Luckily for Red Bull, they most likely will not have to pay a hefty salary for Perez’s replacement, Liam Lawson, who will compete in his maiden full season this year. When Red Bull signed Lawson mid-season to their junior team RB last year, the New Zealand Herald claimed he earned somewhere between $5 million and $10 million.
With him having only competed in six races in 2024, he is unlikely to receive a huge raise if he does end up receiving any at all. While Red Bull may save on Lawson’s salary, they are likely to lose a lot more because of Perez’s exit.
Perez’s sponsors could leave Red Bull as well
Shortly after Red Bull confirmed they were parting ways with Perez, reports emerged that the Mexican’s biggest backers would also follow suit. Escudería Telmex, an auto racing team that Mexican billionaire Carlos Slim founded, has hinted that they may stop sponsoring the Milton Keynes-based outfit after Perez’s exit.
If true, this would be a huge blow to Red Bull as Escudería Telmex reportedly pumped in around $130 million during their entire tenure till now with the team. And this is not the only place where Red Bull will suffer a hit because of Perez leaving.
The #11 driver’s popularity in both Mexico and Latin America, reportedly played a huge role in the increased sales of Red Bull’s merchandise in these regions. A report claimed that Mexico buys 65% of Red Bull’s online merchandise. So, while the Bulls will be happy about the potential sporting gains after sacking Perez, they will have to bear some losses commercially.
