Sergio Perez was off to a flying start at the beginning of the 2023 season. The Mexican driver won two of the first four Grands Prix but has not won a race since. Red Bull Racing seems unhappy with his current run of form, and with Daniel Ricciardo as their third driver, there was talk of the Australian swapping seats with Perez. But while Perez’s contract, which runs through to the end of the 2024 season, saved his seat, another clause in his statement has become a cause for concern.
Perez currently has a $7 million deal with Red Bull, with an added $3 million in bonuses. While the 33-year-old’s $10,000,000 contract saves him from being replaced by another driver, it also says that he may be up for a pay deduction. The ‘special clause’ in Perez’s contract says if he falls 125 points or more behind his teammate, Red Bull may downgrade his multi-million deal.
With Max Verstappen miles ahead of the others in terms of performance, Checo Perez is yet to taste similar success while driving the same car. If it does end up continuing this way, Red Bull Racing have an “apt” punishment for that.
Sergio Perez is on the verge of a massive financial hit
Currently, F1 is in the midst of a summer break, and fans are all looking forward to when racing action begins again, in two weeks time. However, it might not be good news for Red Bull’s Sergio Perez, who sits at P2 in the driver’s standings, exactly 125 points behind his teammate.
According to a report by Dutch site De Telegraaf, Red Bull now reserves the right to re-adjust and bring down Perez’s salary or bonus (or perhaps both) within his contract. The only good news for Perez is that the particular clause in his deal only affects the monetary aspects of his time at Red Bull. Meaning his seat as a Red Bull driver is secure for the length of the contract. With multiple errors during the qualifying sessions in recent race weekends, Perez has come under significant fire for his performances.
Perez has gradually improved his performance, but his past mistakes have allowed other drivers to close the gap to him. With 189 points, the Guadalajara-born driver currently holds 2nd in driver’s rankings, but Fernando Alonso and Lewis Hamilton are hot on his tail. Alonso driver is only 40 points behind him in 3rd place, while the seven-time World Champion sits 41 points below the Red Bull driver. If Perez’s performances were to slip up more, he might see himself dropping to P3 or even P4 in the coming few rounds.
Perez facing battles from every direction
The restart of the F1 season will present Sergio Perez with some of the most difficult challenges he could imagine. Should he continue at the level he was performing at before the break, Perez will undoubtedly see himself losing even more points leading a potentially bigger pay cut.
Also, Aston Martin and Mercedes will bring in new upgrades, meaning their cars might perform even better. Given there isn’t a massive gap between P2, P3, and P4, if Perez were to continue performing below expectations, Alonso and Hamilton would quickly send him down the driver’s standings.
How the team standings stack up after Spa🇧🇪 #spa #f1 pic.twitter.com/CBneAPB1dv
— Formula1 TM (@TomiM93274783) August 3, 2023
Perez’s third battle after the restart will be to defend Red Bull’s lead in the constructor’s championship. The Milton Keyes-based outfit currently sits in first place in the championship with a healthy 256-point lead. However, their rivals from Brackley might chip away those points quickly if given the chance, especially if both Perez and Verstappen don’t perform at the same level.
