With his contract set to expire at the end of the year, there are plenty of question marks regarding his future with the team and within the sport.
His 2024 campaign is going to be as much about proving he has the pace to do the job, as it will be backing Max Verstappen up in their quest to earn a third consecutive constructors’ championship.
Failing to do so could result in a promotion for Liam Lawson or Yuki Tsunoda from within the Red Bull talent pool, or maybe even a call to old friend Carlos Sainz.
Speaking on the F1 Nation podcast, 1996 champion Damon Hill shared his thoughts on Perez ‘only being good if Max is winning.’
“It’s a harsh thing though really, because he didn’t do such a bad job in qualifying itself - to be given a three-place grid penalty [was unlucky],” he said.
“But if that’s Max and he started sixth – Max would’ve won the race. That’s why I feel that Checo is a good driver, but he’s only good if Max is winning.”
There are plenty of opportunities for Perez to prove himself before the end of the season, with a further 21 races ahead.
Stability is a key part of any legacy or successful Formula 1 operation, so retaining the Mexican may prove to be a wise move if Red Bull wish to sustain their incredible success.