The massive pay rise and new terms behind Sergio Perez's contract

Sergio Perez has received a pay rise in his new Red Bull contract that takes him to within touching distance of both Ferrari drivers’ salaries.
Race winner Sergio Perez (MEX) Red Bull Racing celebrates on the podium. Formula 1 World Championship, Rd 7, Monaco Grand
Race winner Sergio Perez (MEX) Red Bull Racing celebrates on the podium. …

Perez is now paid €7m with a bonus €3m (a total of £8.6m), according to Sportune.fr.

Perez was previously paid €5m, with a bonus of €3m (a total of £6.8m), the report says.

Remote video URL

His new salary takes him behind only the reported pay of Charles Leclerc and Carlos Sainz (£9.8m each), Daniel Ricciardo and Sebastian Vettel (£12.2m each), Fernando Alonso (£14.9m), Lando Norris (£20m), Max Verstappen and Lewis Hamilton (£40m each). 

After winning the F1 Monaco Grand Prix he was overheard joking to team principal Christian Horner that he had signed his new deal too quickly.

The sponsorship from his home country of Mexico was a key part of Perez’s contract negotiations.

He reportedly brings €20m (£17m) into the Red Bull coffers.

Perez’s new deal is also a guaranteed two-year extension rather than one year plus the option of another year, the report says.

Red Bull Racing celebrate race victory for Sergio Perez (MEX) Red Bull Racing at the Red Bull Energy Station pool. Formula
Red Bull Racing celebrate race victory for Sergio Perez (MEX) Red Bull…

Is Sergio Perez an F1 title contender?

Horner said about Perez: “Time and again he has proved himself to not only be a magnificent team player but as his level of comfort has grown he has become a real force to be reckoned with at the sharp end of the grid.”

Perez is 15 points behind teammate Verstappen in the championship standings ahead of the F1 Azerbaijan Grand Prix.

Just a week earlier he was instructed via team radio to allow Verstappen to pass him, and he reacted with clear frustration.

Read More

Subscribe to our F1 Newsletter

Get the latest F1 news, exclusives, interviews and promotions from the paddock direct to your inbox