Max Verstappen, the winner of the Sprint race, and his Red Bull Racing teammate Sergio Perez were seen together in the parc ferme after the Chinese Grand Prix in Shanghai, China, on April 20, 2024. This race was part of the Formula 1 World Championship, which took place on Qualifying Day.
Ralf Schumacher recently suggested that Max Verstappen’s salary and Sergio Perez’s sponsorship agreements played a role in Red Bull’s decision to extend Perez’s contract. Despite a strong start to the 2024 season, Perez has struggled in the last two races, failing to advance to Q3 and earning only four points. However, Red Bull announced that Perez has signed a new two-year contract extension, ensuring he will continue racing alongside Verstappen until the end of the 2026 season. Verstappen’s championship ambitions are not threatened by Perez, and their harmonious relationship is believed to be one of the reasons for his retention.
Schumacher mentioned that Verstappen’s estimated salary of $70 million was a factor considered by Red Bull when contemplating Perez’s future with the team. Perez’s commercial agreements with Mexican brands Claro, Telcel, Disney, KitKat, and Nescafe also provide additional funds for Red Bull. These financial considerations are important for Red Bull, as their title ambitions have been challenged by both Ferrari and McLaren this season. The gap in the Constructors’ Championship has narrowed to 24 points after Ferrari’s success in Monaco and Red Bull’s difficulties.
Despite Perez’s recent difficulties, Red Bull team principal Christian Horner emphasized the importance of both drivers performing at their best. He acknowledged the threat posed by Ferrari and McLaren in both championships and stressed the need for both cars to consistently score points. Horner addressed Perez’s disappointing performance in Monaco, stating that the weekend had been tough for him. However, he dismissed the idea that these difficulties would affect Red Bull’s decision-making process regarding the second seat alongside Verstappen. Horner stated that the team would make a decision in due course, without being influenced by recent events.
