Plenty of rumors have circulated this year around this Red Bull Racing driver. While everyone was speculating who might become Max Verstappen’s new teammate, one crucial question went unasked.
Will Sergio Perez be let go at the end of the 2024 F1 season? Surprisingly, it seems Checo will continue driving for Red Bull next year. Let’s try to understand the Austrian team’s decision.
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Perez: performance on the decline
The Mexican driver isn’t bad on paper; he actually has an impressive track record with 6 wins and 39 podiums. In fact, he was brought on by Red Bull Racing to back up Max Verstappen, the team’s No. 1 driver. So far, it’s been a winning gamble, as Max claimed the championship title in their first year together and continued with titles over the next two years. As we approach the season’s end, he even seems poised for a fourth crown. Yet, since late 2022 and into 2023, Sergio Perez has struggled to run the F1 car at the same pace as his teammate. Worse, he’s often eliminated early in qualifying. This season, before the Las Vegas Grand Prix, he’s only brought in 151 points compared to Max’s 393. This gap is the largest between teammates across the entire grid.
Why Perez needs to go in 2025
Although they’ve held the constructor’s title since 2022, Red Bull Racing may have to give it up this year. With a 49-point gap behind McLaren and only three races remaining, catching up seems out of reach. Perez’s underperformance is certainly to blame for this ranking. Red Bull would clearly benefit from testing another driver in their second F1 car, aiming to earn more points in future Grands Prix. Looking at McLaren, Ferrari, and Mercedes, each of their drivers is extremely productive, and their teams can count on them. Having two drivers who reliably score points is reason enough to replace Perez, not to mention the young drivers waiting for a promotion. Tsunoda is an option, though unlikely. There’s also Lawson, who’s already driven for Racing Bulls, and Colapinto, who is desperately seeking and deserving of a seat. Doesn’t it make sense for Red Bull to give them a shot?
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Checo is super bankable
But one last factor can’t be ignored: money. Sergio Perez is extremely bankable. He alone represents close to 60% of Red Bull Racing’s revenue from merchandise, far more than Verstappen, even as a world champion! Perez has a certain presence in Central and Latin America, and we know Formula 1 is a true commercial platform. Having a driver with such appeal on the team generates significant sales, especially in an underrepresented region on the grid. Except for Perez, there’s no American. This will change next year, as Brazilian driver Bortoleto joins Aston Martin in 2025, but Red Bull needs Perez to captivate Latin America. I interpret their strategy as follows: the constructor’s title is sidelined in favor of the massive financial gain Perez brings, and Max Verstappen is strong enough to chase championship titles on his own. It’s a weak sports strategy but an excellent business move.
This article explores Red Bull’s decision to keep Sergio Perez on their team for 2025 and why Checo remains in Formula 1.
Featured image: Red Bull Content pool
