Mexican driver Sergio Perez, also known as the “King of the Streets” made his Formula 1 debut in 2011 while racing for the Sauber team after the company announced a partnership with Telmex, a telecommunications provider. Perez decided to switch teams and join McLaren in 2013 after spending two years with Sauber. Unfortunately, he failed to perform well throughout that year.
Perez made another transfer, joined Force India a year later, and stayed there for a while. He raced alongside. He partnered with Esteban Ocon for two years until the latter was replaced by Lance Stroll in 2019. But before he was also being replaced in Force India, Sergio Perez received a tempting offer from his current team Red Bull Racing.
Max Verstappen is now the highest paid Formula 1 driver earning a salary of $40m and bonuses of $20m.
— Fastest Pitstop (@FastestPitStop) November 23, 2022
Lewis Hamilton earns a total of $55m per year, Fernando Alonso $30m and Sergio Perez $26m. Charles Leclerc earns $23m, Seb Vettel and Daniel Ricciardo both earned $17m #F1
Following an impressive performance for Red Bull, Sergio’s contract was extended by the team in May 2022, a mere two days after his victory in the 2022 F1 Monaco GP. His previous agreement, which was set to expire at the end of the 2022 season, was quickly replaced by a new one.
The fact that Perez’s contract with the team had been extended until the end of 2024 after extensive talks reveals the degree of satisfaction Red Bull team principal Christian Horner felt about the Mexican driver.
How much Sergio Perez earns from his Red Bull contract?
As per the updated details in the contract, Red Bull has additionally raised the Mexican driver’s pay. He earns a stunning $10 million per year and a few more million through sponsorships and bonuses over his previous contract with the Red Bull team. This all together makes up Sergio Perez’s salary as he stands as one of the highest-paid drivers on the grid after Max Verstappen, Lewis Hamilton, Fernando Alonso, and Charles Leclerc.
🚨| RedBull have had many meetings discussing that if Sergio Perez’s poor form continues than he’ll be replaced mid-season. #RedBullRacing #F1 pic.twitter.com/kAAHaI5fzw
— Joseph Brown (@JosephBrown_974) June 29, 2023
In the past as well, drivers found it very challenging to retain the second spot within the Red Bull team as they either found it difficult to perform as amazingly as Max Verstappen, who is rightfully the team’s star driver or experienced certain issues in the car. Perez, on the contrary, stood out as one of the few drivers who not only kept up with Verstappen on and off the track but also gave him the essential backing.
Sergio Perez amassed an impressive net worth of $75 million. Perez enjoyed the consistent backing of telecoms giants like Telcel, Telmex, and Claro throughout the span of his Formula 1 career. There have been numerous rumors swirling out that the reigning world champions might pick Perez out for Daniel Ricciardo for the next 2024 season. It will be intriguing to see whether Red Bull opts to proceed with the Australian driver instead of Perez.