Sergio Pérez Signs Two-Year Contract Extension with Red Bull Racing

Fresh off the back of his Monaco Grand Prix victory, Sergio Pérez has signed a two-year extension to his contract with the Oracle Red Bull Racing team until the end of the 2024 FIA Formula 1 World Championship season.

Pérez became the winningest Mexican driver in Formula 1 history when he took the chequered flag first for the third time in his career in Sunday’s encounter at the Circuit de Monaco, and he has been rewarded for his improved performances throughout 2022 with a new deal.

Red Bull’s line-up has now been confirmed for the next two seasons at least, with Max Verstappen already signed to a long-term contract with the Milton Keynes-based outfit.

“For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the Team until 2024 just makes me extremely happy,” said Pérez.

“I am so proud to be a member of this Team and I feel completely at home here now. We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more.

“We have built tremendous momentum as a Team and this season is showing that, I am excited to see where that can take us all in the future.”

“Holding onto his pace, race craft and experience was a no-brainer” – Christian Horner

Christian Horner, the Team Principal at Red Bull, says Pérez’s performances this year have shown them just what the Mexican is capable of, and he is helping the team move forward alongside Verstappen. 

And Horner says to keep that status quo in place for the next two years was a ‘no-brainer’, particularly after his win in Monaco and his maiden pole position back in the Saudi Arabian Grand Prix.

“Since joining Oracle Red Bull Racing, Checo has done a fantastic job,” said Horner.  “Time and again he has proved himself to not only be a magnificent team player but as his level of comfort has grown he has become a real force to be reckoned with at the sharp end of the grid.

“This year he has taken another step and the gap to World Champion Max has closed significantly, evidenced by his superb pole position in Jeddah earlier this year and by his wonderful win in Monaco just last weekend.

“For us, holding onto his pace, race craft and experience was a no-brainer and we are delighted that Checo will continue to race for the team until 2024. In partnership with Max we believe we have a driver pairing that can bring us the biggest prizes in F1.”

Sergio Pérez will race with Red Bull until at least the end of 2024 – Credit: Eric Alonso/Getty Images