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Sergio Perez’s $10 Million Contract Extension That Forced Red Bull to Skip Oscar Piastri Train

Somin Bhattacharjee
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Sergio Perez's $10 Million Contract Extension That Forced Red Bull to Skip Oscar Piastri Train

Oscar Piastri, who is one of the biggest talents in racing today, signed for McLaren ahead of the 2023 F1 season. However, there were other teams, including defending champions Red Bull, who did their best to sign the young Aussie but were unable to land his signature.

When Alex Albon was sacked at the end of the 2020 season, Red Bull chose Sergio Perez as the Thai driver’s replacement. While Perez has been a valuable asset to the team as a number two driver, the gap between him and Max Verstappen has been huge. With Perez’s contract running out in 2024, Red Bull is looking to get Piastri to the team at last.

According to Business F1, Helmut Marko always preferred having Piastri over Perez. The 79-year-old rues on missing out on the Aussie, and before he knew it, Perez signed a two-year extension in 2022, before they could even talk to Piastri. This $10 million extension will keep the Mexican driver in Milton Keynes till at least 2024.

But Red Bull is known for being ruthless towards their second drivers. The likes of Pierre Gasly, Daniil Kvyat, and Alex Albon were all given the sack without much consideration. So what keeps Perez on the team?

Why won’t Red Bull let Sergio Perez leave early?

Perez’s contract extension was a huge relief for the Guadalajara-born driver. There were doubts about his future leading up to his renewal. Hence, signing the $10 million deal put his mind at ease and helped him focus only on racing.

However, his performances were not remotely as good as Verstappen’s. Last year, when Verstappen did not allow Perez to pass him for P6 in Sao Paolo, tensions between them were at an all-time high. The public opinion stated that Verstappen was in the wrong, but according to David Coulthard, the team would never prioritize Perez over Verstappen, even if it was for just two points after the title was sealed.

This is because of Verstappen’s superiority in terms of both driving and results. Nevertheless, Perez will remain with Red Bull until the 2024 season at least. His extension with Red Bull last season, will also bring in a lot of sponsorship money to Red Bull from his Mexican partners. This cash injection is something they do not want to lose out on. After 2024, however, the story could be very different.

Oscar Piastri all set to join Red Bull in 2025?

Piastri’s dramatic exit from Alpine in 2022 was followed with him joining McLaren. However, the Woking-based outfit aren’t in a good place, and are not expected to compete at the front for some time.

Marko, who is a huge fan of Piastri’s, will follow his career closely as he competes with Lando Norris at McLaren. If Piastri manages to defeat Norris, Red Bull will most certainly go for the Melbourne-born driver according to Business F1.

About the author

Somin Bhattacharjee

Somin Bhattacharjee

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Basketball Editor Somin Bhattacharjee first discovered the game during the 2014 FIBA World Cup. Not long after, he turned to the NBA and found himself drawn to the Golden State Warriors — right at the start of Stephen Curry’s rise. Over time, the admiration turned into full-blown support for the team, one that continues even as the Curry era approaches its twilight. A true hoophead, Somin also follows EuroLeague basketball closely and enjoys exploring the game beyond the NBA. Though holding a bachelor's degree in marketing, Somin discovered his true calling in writing. Since 2021, he has penned over 3,000 articles for TheSportsRush, covering everything from breaking news to sharp opinion pieces and detailed exclusives. He thrives on writing about in-game moments and the reactions that make basketball a uniquely emotional sport. Beyond basketball, Somin plays different sports including soccer and remains a passionate fan of Spanish football giants Real Madrid

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