F1 News: Red Bull Admits Early Sergio Perez Contract Extension 'Didn't Work'

Saajan Jogia | Dec 6, 2024

Oracle Red Bull Racing driver Sergio Perez talks to media at the Formula 1 Pirelli United States Grand Prix at Circuit of the Americas on Thursday, Oct. 17, 2024. / Aaron E. Martinez/American-Statesman / USA TODAY NETWORK via Imagn Images

Sergio Perez's chances of being in a Red Bull seat received another blow after team principal Christian Horner admitted that his early contract extension "didn't work." The statement arrives as junior team VCARB's drivers Yuki Tsunoda and Liam Lawson are being evaluated for a potential Red Bull promotion in the future.

It remains no surprise that Perez has been experiencing a rough year that began on a high note after he secured five podium finishes in the first six races. However, things changed after the Chinese Grand Prix as the Mexican driver's performances began to suffer immensely. It wasn't until Max Verstappen began to face challenges that Red Bull realized there were problems with the RB20 F1 car's balance. Despite the car being improved later in the season, Perez's performance saw a declining trend.

Horner explained that Perez's contract signing in June this year was a result of his initial success with the team and to "settle his mind" to ensure his top form continues through the season. However, he reckons that didn't work. He said:

“Obviously, at the time, Sergio was performing extremely well.

“I think he had four podiums in the first five races and, in order to settle his mind and extend that run of form for the rest of the season, we elected to go early - which obviously didn't work. That's just life sometimes."

The team boss, however, acknowledged Perez's past contributions to the team since his joining in 2021, which added to its record-breaking success. Perez has secured five Grand Prix victories across three seasons: 2021, 2022, and 2023. Horner added:

“But I think with Checo you have to look beyond this year for the contribution that he's made to our team. He's been a great team player. He's a great person. He's extremely popular within the team. He's worked very hard over the four years that he's been with us and he's played a vital role in the constructors’ championships that we've won, the five grand prix victories that he had in our car.

“It's been the most successful pairing that we've ever had, finishing first and second in the drivers' championship last year.”

When asked if Red Bull had shortlisted a driver it wants to see race alongside Verstappen, Horner said:

“We're fortunate that we've got a tremendous pool of talent.

“It was good to see Isack Hadjar getting a run out as well in free practice. We've got two talented drivers in VCARB [RB], so until the situation is clear with Sergio and what he wants to do, everything else is purely speculation.”

Red Bull will finalize the 34-year-old driver's future and confirm VCARB's driver lineup during a meeting scheduled for the day after the Abu Dhabi Grand Prix.