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Six-time Formula 1 race winner Sergio Perez has officially vacated his Red Bull seat ahead of 2025, despite having signed a contract extension earlier this year.
The 34-year-old Perez, whose 281 grand prix starts are the eighth-most in F1 history, joined Red Bull in 2021 and put pen to paper on a new deal covering 2025 (and 2026 depending on performance clauses) at the start of summer.
His season then unravelled into his worst campaign as a Red Bull driver, with championship finishes of fourth, third and second followed in 2024 by a distant eighth place as Red Bull being caught up by its rivals left Perez particularly exposed - even while team-mate Max Verstappen romped to another title.
Red Bull managed to claim the constructors' championships in 2022 and 2023, but Perez scored 285 fewer points than Verstappen this year - 437 to 152 - which meant a limp surrender in the constructors' title race this time around.
The announcement is that Perez and Red Bull have now "reached an agreement to part ways for 2025" - which will mean that Perez has been compensated for stepping down. He will now not be on the grid to start the 2025 season, but hasn't ruled out an F1 comeback down the line.
In announcing his exit, Perez described his time with Red Bull as "an unforgettable experience".
"I’ll always cherish the successes we achieved together. We broke records, reached remarkable milestones, and I’ve had the privilege of meeting so many incredible people along the way."
He said he had been "an honour" to race alongside Verstappen and wished the team staff "all the best for the future".
"A special thank you to the fans around the world, and especially to the Mexican fans for your unwavering support ever day. We’ll meet again soon. And remember… Never give up."
Red Bull team boss Christian Horner described Perez as "an extraordinary team player".
"He will always be an extremely popular team member and a treasured part of our history," Horner said.
One potential route for Perez to return would be the newly-admitted Cadillac F1 team, which will join the grid in '26 (initially as a Ferrari engine customer) and should logically have interest in an experienced spearhead for the project.
Red Bull is set to communicate the identity of Perez's replacement soon. It is understood the team may wait until Thursday to confirm its revised 2025 line-up, in order to first focus its messaging on Perez and his contribution to the team.
As to who the replacement will be, Red Bull is known to strongly favour Liam Lawson's candidacy - and there has been no indication of a change in thinking on that front.
Lawson's RB team-mate Yuki Tsunoda has been vocal in making his case for the seat, but the New Zealander - who is just under two years younger than Tsunoda and has 75 fewer grand prix starts under his belt - has long been regarded within Red Bull as a better fit for the role of Verstappen's team-mate.
Red Bull has internally questioned Tsunoda's quality of feedback - although Helmut Marko said Tsunoda dispelled that notion in a recent test - and has doubted his self-control, wary that this perceived shortcoming would be exposed by it throwing Tsunoda into a high-pressure environment as Verstappen's team-mate.
Lawson, unlike Tsunoda, was never formally announced as a 2025 driver for Red Bull's second team - which now goes by Racing Bulls.
Perez's exit ensures a Racing Bulls vacancy for Red Bull junior Isack Hadjar, who finished second to Gabriel Bortoleto in a close Formula 2 title fight this season and is set to parlay that into an F1 seat after all.
