Red Bull SLAMMED for Perez contract decision

Red Bull’s decision to retain Sergio Perez for the remainder of the 2024 Formula 1 season has come under intense scrutiny.

Red Bull have been criticised for prioritising sponsorship money over performance, with one F1 figure suggesting that Perez’s commercial appeal has played a key role in his continued presence at the Milton Keynes-based outfit.

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Perez currently trails his three-time world champion team-mate Max Verstappen by 242 points in the drivers' championship, a deficit which has a huge impact on Red Bull's ability to compete in the constructors' championship.

What's more, Perez has not claimed a podium since April at the Chinese Grand Prix, in a long string of dismal performances that have seen him drop to eighth in the championship.

Red Bull's Perez contract decision

Following a run of four podiums from the first five races of the season, Red Bull handed Perez a contract extension that is supposed to see him in the seat alongside Verstappen until the end of the 2026 season.

Despite pressure to release him from that contract early during the summer break, Red Bull team principal Christian Horner stood by the Mexican.

Now, F1 pundit Christian Hewgill has suggested why Red Bull have decided to continually stand by Perez, despite his poor performances.

Speaking on the Fast and the Curious podcast, Hewgill said: "Let’s all be honest here, there is a massive reason why Sergio Perez is still in Formula 1.

"It’s because he brings huge financial advantages, he sells merchandise all over the world, he’s got sponsorship backing, he’s got rich businessmen backing.

"I strongly believe the reason why Red Bull haven’t pulled the trigger sooner is because they quite like the money Sergio Perez brings.

"And I think they’ve chosen to do that over winning the constructors’ championship."

Hewgill argued that while Perez’s financial contributions have undoubtedly benefitted Red Bull, there is one other driver on the grid who could bring a similar benefit.

"I think Red Bull will possibly see a little bit of replacement from that in some of the Argentinian connections with [Franco] Colapinto as well," he continued.

"I think it could financially work for them."

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