Revealed: How much will Perez earn under new Red Bull contract

Sergio Perez has been awarded a new contract with Red Bull that keeps him in Milton Keynes until at least the end of 2024.

Sergio Perez’s new Red Bull deal that keeps him at the team until at least the end of 2024 will see him earn $10 million a year in 2023 and 2024, according to a report from

Perez’s victory in Monaco last weekend means he has now taken two wins with the Austrian outfit as well as nine podiums, and his solid performances last season earned him another go in 2022.

He has grasped the opportunity with both hands by out-qualifying Max Verstappen twice in the opening seven rounds of the year, and was in contention to win in Spain before the team intervened to give the Dutchman, who was on much fresher tyres, the race win.

READ: Mick Schumacher warned Haas could run out of patience and fire him

The 32-year-old might also have claimed the full compliment of points in Jeddah, but an unfortunate Safety Car cost him the lead of the race, a week after a reliability failure had put pay to his podium pursuit in Bahrain.

He is now 15 points behind Verstappen in third in the Drivers’ Championship, and was heard after his win on Sunday cheekily telling team principal Christian Horner that he had “signed too early.”

As it turns out, this was indeed indicative of a new contract on the horizon, and the announcement arrives a few months after Verstappen was signed until the end of 2028 in a deal with $250 million.

Perez’s contract will see him earn $20 million over the course of the next two seasons, and he hailed an “incredible week” upon the announcement of the deal.

“For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the Team until 2024 just makes me extremely happy,” he told the Red Bull website.

Article continues below

“I am so proud to be a member of this Team and I feel completely at home here now. We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more. 

READ: Hamilton refuses to let frustration ‘consume’ him

“We have built tremendous momentum as a Team and this season is showing that, I am excited to see where that can take us all in the future.”

Verstappen finished third in Monaco behind Charles Leclerc and ahead of Carlos Sainz, extending Red Bull’s advantage over Ferrari in the Constructors’ Championship to 36 points.