Ex-F1 team boss predicts Sergio Perez exit could trigger mass sponsor exodus at Red Bull
Guenther Steiner reckoned that Sergio Perez's sacking could force a lot of sponsors to quit Red Bull before next season.
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Sergio Perez's helmet showcasing Nestle's owned KitKat's logo (via LWOS)
Sergio Perez continued to bring massive financial backing to Red Bull ever since he joined the team in 2021. However, Perez’s disastrous form in the 2024 season has opened up rumors of him being ousted from the team. As a result, Ex-F1 team boss Guenther Steiner believes that a majority of the sponsors might also leave if the Mexican driver were to be ousted.
One of the major reasons behind Sergio Perez‘s stay was the massive sponsorship funds he bought into the team. Guenther Steiner reckoned that a driver usually had PSAs (Personal Service Agreements) between the sponsors and the teams. This meant that the agreements lasted as long as Perez was racing with the team in Formula 1.
A driver normally has got some personal service agreements, PSAs, with sponsors of his own. And for sure, they were for next year as well.
Guenther Steiner said on the Red Flags Podcast
If Red Bull sacks Perez, he could simply ask the sponsors to quit alongside him as the team made the latter’s life ‘hard’. Steiner noted that there was no point for sponsors to stay with the team if their driver of choice wasn’t driving the racing car.
So he can claim ‘guys, you made my life difficult here because now I’m unemployed, and all the sponsors don’t pay me. Because why would they pay me if I’m not driving a race car?’
Guenther Steiner noted
Christian Horner pushed Sergio Perez to ‘resign’ from Red Bull
Red Bull continued to maintain silence and uncertainty over Sergio Perez’s future with the team. However, according to Guenther Steiner, Red Bull boss Christian Horner asked Perez to resign himself before being sacked. This meant that the team would pay the entire money to the Mexican driver much like they did with Daniel Ricciardo mid-way through the 2024 season.
How Christian spoke, I think he tried to send Checo a message saying ‘hey, resign.’ And I think if he would resign, they would pay him the whole money. I think they had to pay Danny Ric [Daniel Ricciardo] the money when he was sacked.
Guenther Steiner added
Perez is certainly facing a dire situation all because of his poor performances throughout the 2024 season. Despite multiple chances from the team, he continued to fail to match up to his dominant teammate Max Verstappen. As a result, the sacking is imminent and Milton Keynes will continue to look at the driver options to find the right replacement.
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Aditya Pandya
(1488 Articles Published)