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Spanish Report Claims Sergio Perez to Remain at Red Bull After Thumbs Up to $40 Million Sponsor

Somin Bhattacharjee
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Formula 1 GP Mexico Mexico City Sergio Perez 11, Oracle Red Bull Racing

There have been rumors of Red Bull looking to sack Sergio Perez for almost a year now. His performances haven’t been up to the mark, and his big gap with leader and teammate Max Verstappen has not helped his cause. Yet, Perez has held on.

The latest reports from Spain suggest that Red Bull has no immediate plans to part ways with Perez, who currently sits P8 in the standings, 242 points behind Verstappen. Financial considerations have been cited as a reason for this decision.

Perez already brings with him to Red Bull, tens of millions of dollars per year and they are mostly from companies owned by Carlos Slim — one of the richest in the world.

At one stage this season, it was reported that Slim was considering parting ways with Red Bull. However, Marca (who reported that Perez will stay in 2025) revealed that the 84-year-old’s companies would remain partnered with the Milton-Keynes-based outfit.

Perez has secured a new sponsorship deal ahead of the 2025 season. And they will reportedly pump up to $40 million into the team — huge for Red Bull who are set to lose out on money in the Constructors’ Championship this season.

Perez’s huge backing from Mexico

The report did not reveal the name of Perez’s new aiders, but they will join Claro, Telcel, and Infinitum — all owned by Slim, who has supported Perez’s career from a very young age.

Perez is a hugely popular figure back home. Companies in Mexico use it to their advantage to market themselves, making the Guadalajara-born driver a huge commercial asset, not just to the brands, but to Red Bull and F1 as a whole. There is a notion that Perez has a big pull on the audiences in Mexico and the American races in Austin, Las Vegas, and Miami.

It seems that those betting on Perez leaving after the final three rounds of 2024 would be mistaken. He already signed a new deal with the Austrian squad midway into the 2024 season, and despite rumors of newcomer Liam Lawson replacing him, it looks as if Perez will get a shot at redemption at the turn of the year.

Post Edited By:Aishwary Gaonkar

About the author

Somin Bhattacharjee

Somin Bhattacharjee

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Formula 1 Editor Somin Bhattacharjee fell for the sport as well as Fernando Alonso on the same day — during the Spaniard’s thrilling victory at the German GP in 2010. Over the years, the passion magnified manyfold, and metamorphosed into a writing career in 2021. Though holding a bachelor's degree in marketing, Somin discovered his true calling in writing. He has penned over 2,700 articles for TheSportsRush, presenting a diverse range — news reports, opinions, and exclusives. A true Tiffosi, Somin never gives up on a chance to defend the Ferrari boys as a fan. As a sports writer though, he remains objective to the core and relishes opportunities to follow and engage in dissecting the action during races. That’s where the real thrill lies for him. Beyond the racetrack, Somin plays different sports including soccer. He enjoys exploring other sporting events and proudly supports Spanish soccer club Real Madrid.

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