Sergio Perez has committed his future to Red Bull Racing until the end of 2024, fresh off his win in the Monaco Grand Prix on Sunday.

This comes after his teammate Max Verstappen, just secured a five-year contract extension. Many others wondered what Perez needed to do to stay on the club.

Since suspicions that Perez will be unable to secure a seat after leaving Racing Point in 2020, a lot has happened. Since then, he has aided Verstappen in his quest to win the 2021 world championship while also claiming nine podiums. His consistent performance and well-deserved title of “Minister of Defense of Mexico” demonstrate that he is deserving of a spot on a top squad.

“For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and to follow that with announcing I will continue with the team until 2024 just makes me extremely happy,” Perez said on his contract extension.

“I am so proud to be a member of this team and I feel completely at home here now.”

“We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more.

“We have built tremendous momentum as a Team and this season is showing that, I am excited to see where that can take us all in the future.”

Eagle-eyed supporters will not be surprised to learn of the contract extension. After Sunday’s race, the Red Bull driver was overheard saying that he ‘probably signed too early,’ implying that another win would have given him an advantage in negotiations.

Sergio Perez joined the Milton Keynes team at the end of the 2020 Formula One season, having been saved from retirement by Red Bull after four-time world champion Sebastian Vettel replaced him at Racing Point/Aston Martin.

Last season, the 32-year-old Mexican won his first race with the team in Baku, but this year Perez has been closer to teammate and reigning world champion Max Verstappen, who won his third career race in Formula One last weekend in Monaco.

“Since joining Oracle Red Bull Racing, Checo has done a fantastic job,” said Horner on Tuesday.

“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.”

“This year he has taken another step and the gap to World Champion Max has closed significantly, evidenced by his superb pole position in Jeddah earlier this year and by his wonderful win in Monaco just last weekend.

“For us, holding onto his pace, race craft and experience was a no-brainer and we are delighted that Checo will continue to race for the team until 2024.

“In partnership with Max we believe we have a driver pairing that can bring us the biggest prizes in F1.”

Perez’s new contract means there will be no room for Pierre Gasly at Red Bull in the near future, putting the Frenchman’s plans to leave AlphaTauri after 2023 and join a top team in jeopardy.

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