Why '$33 MILLION' Sergio Perez contract dilemma is LOOMING for Red Bull

Sergio Perez

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Why '$33 MILLION' Sergio Perez contract dilemma is LOOMING for Red Bull

The Mexican's contract with the reigning champions is up after 2024 and there are a lot of factors to consider

Harry Smith

Wednesday 5 April 2023 13:57

Sergio Perez will hope that 2023 delivers his most successful season in F1 to date, with a contract dilemma looming in the not-too-distant future for his mighty Red Bull team.

The 33-year-old Mexican could quickly find himself under pressure if he fails to consistently convert the dominant pace of the RB19 into consistent results.

With his current deal up in 2024 and the debate raging on over whether or not he has the ability to challenge for a world title, speculation about his long-term future is only likely to intensify in the coming months.

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Recent comments from AlphaTauri team principal Franz Tost will only fan those flames, after he suggested Yuki Tsunoda will be ready for the step up to Red Bull in 2025.

Perez’s 2023 season has kicked off in dramatic fashion - he was miles off the pace of team-mate Verstappen in Bahrain but converted pole position into a memorable win in Jeddah.

Checo’s dominance in the Saudi Arabian desert sparked hopes of a title challenge in 2023, but a major error in qualifying in Melbourne demonstrated there are still inconsistencies to iron out if Perez is to truly challenge team-mate Max Verstappen.

The case for Perez

Red Bull team principal Christian Horner has been publicly supportive of Perez throughout the Mexican’s time with Red Bull, and the pair have a strong working relationship.

The Mexican was drafted into Red Bull following a string of disappointing hires as Pierre Gasly and Alex Albon both struggled in the shadow of team-mate Verstappen following the departure of Daniel Ricciardo in 2018.

The Mexican has perfectly lived up to his billing as the second driver at Red Bull, playing a supporting role in Verstappen’s 2021 and 2022 championship wins, although there are signs of some cracks appearing in their relationship.

Rumours have circulated that Verstappen has still not forgiven Checo for his qualifying spin in Monaco last season, while some dramatic radio messages in Sao Paulo put further strain on Red Bull’s team-mate relationship.

Sergio Perez beat Max Verstappen to victory in Jeddah

However, on-track results remain acceptable and while there is still a notable pace deficit to Verstappen, particularly in qualifying, Perez has so far converted that RB19 pace into results in 2023.

What is more, Perez offers an almost unmatched commercial value for Red Bull.

A recent study from Zoomph suggested that Perez generated $33 million in value from social media alone in 2022 - more than team-mate Verstappen - while his social media interaction figures are only bettered by Charles Leclerc and Lewis Hamilton.

This commercial impact could have a major role in deciding whether or not Checo is retained in 2025.

Red Bull’s dominance is perfect for Perez, but the 33-year-old could find himself under pressure if Aston Martin, Mercedes and Ferrari start to bridge the gap at the front end of the field.

Last season proved that Perez is the perfect second driver when Red Bull holds the advantage, but when the front-running teams closed up, the Mexican struggled to outperform the Mercedes and Ferrari drivers.

While Verstappen dominated from Baku onwards, Perez ended the 2022 season third in the standings with just two wins to his name. While Red Bull walked away with both championships, this was a disappointing return from Perez.

An error in qualifying left Perez at the back of the grid in Melbourne

Tsunoda steps up

Few in 2022 would have seen Tsunoda as a realistic candidate to succeed Perez at Red Bull any time soon, but the Japanese driver has caught the eye with his performances so far in 2023.

The 22-year-old endured an inconsistent rookie season with AlphaTauri in 2021 but stepped up somewhat in 2022, closing the gap to highly-rated team-mate Pierre Gasly. Now 2023 threatens to be a breakout year.

Tsunoda kicked off his campaign with back-to-back P11 finishes before dragging his AlphaTauri to P10 in Melbourne this weekend, securing the team’s first points of the season.

Yuki Tsunoda is paired up with Nyck de Vries at AlphaTauri this season

The importance of this start to the season is the consistency with which Tsunoda has driven. He has often been criticised for his inconsistency during his time in F1, but it looks like the 22-year-old has finally matured into a strong midfield driver.

Tost's recent comments will put Tsunoda's performances this season under even more scrutiny. If he continues on his current trajectory, then Red Bull will have a major decision to make come 2024.

Tost stated: "All I can say is that Yuki is on the right track. He has improved in every respect. But I think he should drive at Alpha Tauri again in 2024.

"In 2025, I think he will finally be ready for Red Bull."

Ricciardo return

Ever since it was announced that Daniel Ricciardo would come back to Red Bull as a test and reserve driver for the 2023 season, speculation surfaced that the popular Aussie could be in line for a full-time return to the grid.

Ricciardo has publicly stated his intention to return to the F1 grid on a full-time basis since leaving McLaren at the end of last season, although the 33-year-old made it known that he isn’t interested in driving for a back marker.

Given their history, and the existing relationship between Horner and Ricciardo, there was always speculation that Ricciardo could be thrust into Perez’s seat should the Mexican underperform.

Daniel Ricciardo was back in the F1 paddock for the Australian Grand Prix

However, Ricciardo’s time at McLaren was underwhelming at best and disastrous at worst, leaving many question marks over the Aussie’s long-term future as an F1 driver.

Ousting Perez and the stability he offers to Red Bull in order to bring Ricciardo back would be a risky move considering the manner in which his spell at McLaren came to an end.

For now, Checo's destiny is very much in his own hands, but the 'Honey Badger' will be waiting in the wings should he start to come unstuck.