Sergio Perez has confirmed that he is leaving the Red Bull team, in an official statement posted to his X account.
The Mexican star has failed to deliver consistent results in 2024, enduring poor qualifying performances and low points-scoring finishes, ending the season with a run of just 13 points from his last nine events.
In fact, the last time the Red Bull star stood on the podium was back in April at the Chinese Grand Prix, while he hasn't won a race since the 2023 Azerbaijan GP.
The 34-year-old was first slammed with replacement rumours prior to the summer break, but Red Bull opted to retain the star for the rest of the season.
However, Perez's results failed to improve and, with two hungry drivers waiting for a chance at the top team currently driving for VCARB, Red Bull have made a decision.
Both Liam Lawson and Yuki Tsunoda were shortlisted by team boss Christian Horner for the drive alongside Verstappen, and it's now been revealed that Perez will leave the team, although his replacement has not yet been confirmed.
In a statement posted on X, Perez thanked his Red Bull team for four years that have yielded five race victories and two constructors' championship titles.
"I'm incredibly grateful for the past four years with red bull racing and for the opportunity to race with such an amazing team," the Mexican said.
"Driving for Red Bull has been an unforgettable experience, and I'll always cherish the success we achieved together. we broke records, reached remarkable milestones, and I've had the privilege of meeting so many incredible people along the way.
"A big thank you to every person in the team from management, engineers and mechanics; catering, hospitality, kitchen, marketing and communications, as well as everyone at Milton Keynes. I wish you all the best for the future.
"It's also been an honour to race alongside Max as a team-mate all these years and to share in our success.
"A special thank you to the fans around the world, and especially to the Mexican fans for your unwavering support every day. we'll meet again soon.