Sergio Perez initially seemed certain to race for Red Bull in 2025 after signing a new contract in June. Christian Horner proudly announced that the team would be retaining its line-up for a fifth consecutive season.
Perez’s extension came at the start of an abysmal run that continued until the end of the season. During that period, Red Bull came to accept that his position was untenable.
It’s unclear whether Perez’s contract made him a Red Bull employee or specifically a Red Bull Formula 1 driver. Regardless, they had to hold awkward negotiations with the Mexican after performing a u-turn.
Perez is represented by Julian Jakobi, who, according to ESPN, is a ‘legend’ in the F1 paddock. That’s after his work with the legendary McLaren duo Ayrton Senna and Alain Prost in the 1980s and 1990s.
Red Bull have previously found soft landings when axing drivers. Pierre Gasly dropped back to the junior team after his mid-2019 dismissal, while they made Alex Albon, the victim of Perez’s move, their reserve driver for 2021.
There was talk that Perez could remain with the company in an ambassadorial role. But it seems as if their relationship will come to an immediate end instead.
Sergio Perez enlisted Ayrton Senna’s former manager to drive a ‘hard bargain’ with Red Bull
According to ESPN, negotiations between Red Bull and Perez became ‘tense’. This was evident in the manner of Wednesday evening’s announcement.
The two parties initially agreed they were going to break the news at a certain time, but had to delay it for an hour amid one final squabble. The terms of his exit are not yet known.
READ MORE: Sergio Perez’s life outside F1 from net worth to nickname: Red Bull ‘baulked’ at one demand from Ayrton Senna’s former manager in Sergio Perez exit talks
But Jakobi drove a ‘hard bargain’ throughout 2024, both when Perez signed a new deal and when Red Bull tried to break it. The team quickly regretted tabling a contract offer.
‘Sources say’ that Jakobi demanded that Red Bull pay Perez more than $8m (£6.4m) – his annual salary – to become an ambassador. Understandably, Horner and co. ‘baulked’ at that idea.
Did Christian Horner tell the full truth about Sergio Perez’s Red Bull exit?
Up until the Abu Dhabi GP, a defiant Perez seemed to think he’d keep his drive. Most other occupants of the F1 paddock disagreed.
During the break between the Singapore and United States Grands Prix, he posted the word ‘Sorry’ on X, accompanied by a famous clip from ‘The Wolf of Wall Street’ where Leonardo di Caprio’s character declares ‘I’m not leaving’. It’s fair to say Perez’s one-word statement has aged terribly.
Red Bull allowed Perez to control the narrative, but inevitably, it seems that the two sides have parted on cold terms. It remains to be seen whether replacement Lawson offers an upgrade.
Even Horner repeated the line that his driver came to his own decision. Perez’s camp have refuted Horner’s take, a further indication of the lasting tension.
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