“Sergio Perez will earn $10million per year”- This is why Red Bull driver felt it was mistake to sign contract extension before Monaco GP

Sergio Perez will now earn $10mn a year as part of his contract extension with the Red Bull after the Monaco GP. 

Two days after winning the Monaco GP, Red Bull announced that Sergio Perez has extended his contract with the team until the end of 2024.

The Mexican will now continue to drive alongside Max Verstappen for the next two seasons. However, this year instead of playing a second fiddle to the defending champion, Perez seems to be in the championship fight himself.

With the ‘dream come true’ victory in Monaco GP, the 32-year-old is only six points away from Charles Leclerc and 15 points away from his teammate in the standings.

For a long time, the Austrian team had been trying to put up a perfect driver line up. Perez delivered to the team’s expectations as he drove alongside his teammate and followed team orders.

While the Dutchman won the championship last year, Perez was overshadowed and mentally exhausted by the time 2021 championship ended.

But Perez helped the team gain valuable points for the constructors’ championship. And again with his win in Monaco he has given the Bulls a 36 points lead over Ferrari.

Until only last week at the Spanish GP, Perez was disappointed with the team as they prioritised Verstappen over him. But now, it seems as though the team has finally found itself a trusted deputy.

Moreover, the new contract is not just ink on paper, it comes with added monetary benefits for the Mexican driver. Before this, Perez earned $8mn, and now he has received a salary increase of $2mn with his contract.

This means that he will now earn  $10mn per year. Meanwhile, his teammate Verstappen has for himself a lucrative deal of $25mn per annum that will run till 2023.

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Sergio Perez is in the championship fight

Perez has been showing consistency behind the wheels of his RB18 in the 2022 season. Furthermore, with him now only 15 points behind his teammate, it looks like team principal Christian Horner will have some decisions to make as the season unfolds.

However, Horner said that it does not matter which one of the two becomes the world champion. “Of course, the constructors’ title is very important, but whether it’s Max or Checo: they are both Red Bull drivers, they both have the same chance,” he said.

Also Read: Ferrari fans lash out at the FIA for not penalizing the Red Bull drivers in Monaco