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Sergio Perez has secured a new two-year deal with the Red Bull Formula 1 team.
A fresh contract had been widely expected in the wake of his strong start to the 2022 F1 season, which reached a new height when he outperformed world champion team-mate Max Verstappen to win the Monaco Grand Prix last weekend.
Verstappen is already contracted to Red Bull through 2028.
“For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the team until 2024 just makes me extremely happy,” said Perez.
“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.”
Perez was brought into Red Bull on an initial one-year deal last season after the team decided it needed to replace Alex Albon in its second car following a disappointing 2020.
At the time, Perez was out of a drive having lost his seat at what was about to become Aston Martin to Sebastian Vettel.
Though Perez had difficulty adapting to the Red Bull at times during 2021, he won the Azerbaijan GP after Verstappen’s puncture, finished fourth in the championship and did enough to earn a further opportunity in ’22.
“It was a great challenge for me to come to such a different team, such a different car as well, so learning new techniques,” Perez said of 2021.
“It was really intense. Definitely the most intense year I remember in terms of adaptation and preparation.”
An even stronger start to this season means the 32-year-old Mexican is just 15 points behind his championship-leading team-mate after seven rounds this year.
Team principal Christian Horner said the two-year extension was reward for the “fantastic job” Perez had done since joining Red Bull.
“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,” Horner added.
“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, racecraft 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.”
Confirmation that Perez is staying put closes off the second Red Bull Racing seat to drivers further down the Red Bull ladder – such as AlphaTauri pairing Pierre Gasly and Yuki Tsunoda – until at least 2025.
