Sergio Perez and Red Bull agree to part ways following conclusion of 2024 season

Sergio Perez and Red Bull have reached an agreement to part ways with immediate effect.

Earlier this year, Perez signed a new deal to race for the team until the end of 2026 – on the back of his strongest season ever in 2023, when he finished second to team mate and champion Max Verstappen.

However, his form tailed off after signing that deal, and the Mexican scored just nine points in the last eight Grand Prix weekends of the 2024 season.

ANALYSIS: Perez had a contract for 2025 – so why has his Red Bull journey come to an end now?

He ended up down in eighth in the drivers’ championship, with Red Bull failing to defend their constructors’ championship and seeing out the season in P3 behind champions McLaren and runners-up Ferrari.

Throughout the difficult period, Perez remained resolute that he would race for the team next year, but following discussions with Red Bull, they’ve agreed to split after four years together.

“I’m incredibly grateful for the past four years with Oracle Red Bull Racing and for the opportunity to race with such an amazing team,” he said.

“Driving for Red Bull has been an unforgettable experience and I’ll always cherish the successes we achieved together. We broke records, reached remarkable milestones, and I’ve had the privilege of meeting so many incredible people along the way.

“A big thank you to every person in the team from the management, engineers and mechanics, catering, hospitality, kitchen, marketing and communications, as well as everyone at Milton Keynes, I wish you all the best for the future.

“It has also been an honour to race alongside Max as a team mate all these years and to share in our success. A special thank you to the fans around the world, and especially to the Mexican fans for your unwavering support every day. We’ll meet again soon. And remember… never give up.”

ABU DHABI, UNITED ARAB EMIRATES - DECEMBER 08: Sergio Perez of Mexico and Oracle Red Bull Racing — Perez scored just 152 points in 2024, compared to Verstappen's 437

Red Bull boss Christian Horner said: “I would like to thank Checo for all he has done for Oracle Red Bull Racing over the past four seasons.

“From the moment he joined in 2021 he proved himself to be an extraordinary team player, helping us to two constructors’ titles and to our first one-two finish in the drivers’ championship.

GREATEST HITS: From perfect pole laps to charging comebacks – Perez’s best moments in F1 ahead of his 250th Grand Prix

“His five wins, all on street circuits, were also a spectacular mark of his determination to always push to the limit. While Checo will not race for the team next season, he will always be an extremely popular team member and a treasured part of our history. Thank you, Checo.”

Perez secured five wins, including victory in Monaco, over 90 starts with the team and played a key role in Red Bull winning the constructors’ championship in 2022 and 2023.

BAKU CITY CIRCUIT, AZERBAIJAN - APRIL 30: Max Verstappen, Red Bull Racing, 3rd position, and Sergio — Perez took five wins for Red Bull in his four seasons at the team

The Mexican won’t be on the grid next year – but it remains unclear whether he wants to pursue a seat in 2026.

Red Bull said further announcements regarding the team’s full 2025 line-up will be made “in due course”.

Liam Lawson is favourite to step up from RB to Red Bull, with Yuki Tsunoda looking set to miss out on promotion, the Japanese driver having tested for Red Bull at the post-season test in Abu Dhabi.

WATCH: ‘The decision’s up to them’ – Lawson waiting on F1 decision from Red Bull chiefs