Helmut Marko Reveals Sergio Perez’s $10 Million Contract Demand Which Isn’t Acceptable to Red Bull

Sergio Perez, banking upon his positive performances in 2024 so far, asked for a contract renewal at Red Bull. The Mexican driver reportedly wants a three-year extension on his $10 million a year salary. However, Red Bull, as per Helmut Marko’s latest update, remains apprehensive.

This isn’t to say that Red Bull is discounting Perez’s future at the team. For Marko and Co. the length of the contract Perez wants is too big to agree to. As quoted by GP Blog, the Austrian said,

“We are not yet in a position to finalize everything. But it has nothing to do with regulations. He knows he has to perform. First, he wanted a three-year contract. But we will find a solution.”

The fact that Marko said they are looking for a solution hints towards Red Bull wanting Perez to extend his deal. The Guadalajara-born driver has been in brilliant form this season, doing everything Red Bull is asking of him. With four podium finishes in five races, Perez sits P2 behind teammate Max Verstappen in the Drivers’ Championship Standings.

Red Bull, however, won’t be too hasty in offering Perez a new deal, let alone a three-year contract. In 2023, Perez had two wins in four races but entered a horrid slump following the fifth round in Miami. The Austrian stable wants to be sure that Perez won’t suffer a similar dip in form before guaranteeing him a seat in 2025.

Furthermore, Red Bull’s interest in other drivers including Carlos Sainz (who is a free agent after 2024) makes things tricky for the 34-year-old. Sainz too, is looking for suitors. And driving for Red Bull, the sport’s most dominant team at the moment could be an exciting prospect for the Madrid-born driver.

Sergio Perez playing the ultimate team game for Max Verstappen

Sergio Perez knows that in order to ensure his stint at Red Bull continues, he needs to keep performing at a high level. Red Bull’s rivals (McLaren and Ferrari mainly) are closing in and if Perez suffers a dip in form similar to last season, Red Bull could lose out on retaining the Constructors’ Championship.

Perez has also accepted the fact that he is the second-driver at Red Bull. It is what the Milton-Keynes-based outfit hired him for but in 2022 and 2023, he tried challenging Verstappen for the championship. As per Marko’s revelation, Perez is focusing more on himself currently, which is helping him tremendously.

Even Sergio Perez’s father admits that his son is the “second-best driver in the world” contradicting his world championship aspirations from just 12 months ago. If Perez continues to be the perfect teammate to Verstappen, there aren’t a lot of reasons for Red Bull to part ways with him.