Sergio Perez’s Contracts and Salary Breakdown
Read this article to know all about the salary details of Red Bull driver Sergio Perez for the current F1 season.
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11 Sergio Perez MEX, Oracle Red Bull Racing, F1 Grand Prix of Brazil at Autodromo Jose Carlos Pace on November 4, 2023 in Sao Paulo, Brazil. Photo by HOCH ZWEI Sao Paulo Brazil *** 11 Sergio Perez MEX, Oracle Red Bull Racing , F1 Grand Prix of Brazil at Autodromo Jose Carlos Pace on November 4, 2023 in Sao Paulo, Brazil Photo by HOCH ZWEI Sao Paulo Brazil
Red Bull picked up Sergio Perez at a time when many feared his Formula 1 career has come to an end. It was the last few months of the 2020 F1 season when all the driver transfers were already done and there was only the Red Bull second seat left in the market. Alex Albon had accompanied Max Verstappen as his teammate during the ’20 Grands Prix but his gap to the Dutchman made the executives at Red Bull including Helmut Marko quite dissatisfied with the Thai-British racer. And thus, they decided to go for Perez as their new recruit while demoting Albon to test driver role.
Sergio Perez was signed up for being with Racing Point till the end of the 2022 season, but the team suddenly announced they would part ways with the Mexican at the end of 2020. Then, he remained tight-lipped about the offers coming his way and at long last, in December, it was announced the Sergio Perez would join Red Bull. Sergio Perez entered Red Bull with a promise of living up to the expectations they had of him.
The talented Mexican has already won a Grand Prix for Racing Point during the 2020 season by putting up a masterful display of his skills at the Sakhir Grand Prix. He used those skills once again to play an instrumental role at the 2021 season finale in Abu Dhabi where Max Verstappen and Lewis Hamilton has their showdown. He valiantly defended against Lewis as Max got away and won his first-ever career Championship title. And in 2022, after winning the Monaco GP, it was announced that Perez will stay on with the Austrian outfit till the end of 2024.
Sergio Perez’s Current Red Bull Contract Breakdown
Sergio Perez is currently recruited under Red Bull till the end of the 2024 F1 season. He had joined the team in 2021 and was offered a renewal in 2022 based upon his promising results. But that impression has started to fall apart as Perez’s current gap to teammate Max Verstappen is of a whopping 266 points.
Thus, he has not been offered any renewal yet and there were even rumors that he would exit Red Bull even before the 2024 season as Daniel Ricciardo and Yuki Tsunoda are primed to take his position beside Verstappen. The base pay for Sergio Perez at Red Bull under his current contract is $10 million per year.
But according to RacingNews365, Red Bull reserves the rights to revise his salary based upon the poor results in 2023. Also, SportsIllustrated reported on Perez being given an ultimatum in his contract with Red Bull. They have claimed that he had to come second in the last five races of 2023 or risk being replaced by Daniel Ricciardo.
| Contract | Avg. Salary | GTD. At Sign | Free Agent |
| 2 seasons (till the end of 2024 season)/ $10,000,000 | $18,000,000 (in 2022, as per Diario AS) | $10,000,000 | 2023 / William Morris Endeavour (WME) |
Salary Breakdown of Sergio Perez
Current Salary: $10,000,000 (base pay)
Salary Per Month: $833,333.33
Salary Per Week: $208,333.33
Salary Per Race: $454,545.45 (considering 21 races in 2023)
Salary Per Quarter: $3,333,332
Salary Per Minute: $20.66
Previous Contracts and Salaries
2020-’21 (at Racing Point)
| Avg. Salary | Base Pay |
| $13,000,000 per year | $8,000,000 per year |
2021-’22 (at Red Bull)
| Avg. Salary | Base Pay |
| $15,000,000 per year | $10,000,000 per year |
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Riddhi Mondal
(1821 Articles Published)