Sergio Perez

Perez lands £2million court victory against former sponsor

Ian Parkes Thursday 30 September 2021 13:00

Perez lands £2million court victory against former sponsor

Red Bull driver Sergio Perez has landed a £2million windfall after winning a court case against one of his former sponsors.

Mexico's state-owned petroleum company Pemex announced in 2018 it would be sponsoring Perez for the 2019 campaign when the team was then known as Racing Point.

But in late 2018, Pemex withdrew its funding, citing "budgetary priorities", according to Mexican publication AM, following a change of government.

That resulted in Perez's management company suing an outsourcing subsidiary of Pemex, MGI Asistencia Integral, for breach of contract and for acting in "bad faith".

Following months of wrangling, a court in Mexico has now ruled MGI must pay 56m Mexican pesos [£2.034m], plus default interest to Perez.

Latest News

Latest F1 News

Verstappen issues F1 rival relationship verdict in 'IDIOTS' claim

3 minutes ago

Racing News

Race CANCELLED in shock update after unexpected twist

1 hour ago

F1 Today

F1 News Today: Verstappen rival SWITCH plans revealed as Red Bull star confirmed in driver lineup

2 hours ago

Max Verstappen

Verstappen reveals incredible F1 PARTY details

3 hours ago

Red Bull

Horner issues SHOCK statement on Red Bull release

Today 13:48

F1 News & Gossip

F1 team boss confirms 2025 driver RELEASE option

Today 12:58

More news

F1 News 24/7

Races

About GPFans

GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.

We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.

With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.

Follow us on your favorite social media channel

Corporate & Media

Innovatieweg 20C
7007 CD, Doetinchem, Netherlands
+31645516860

CHOOSE YOUR COUNTRY

Perez lands £2million court victory against former sponsor

Perez lands £2million court victory against former sponsor