Marko confirms huge sum of money paid by Red Bull to replace P

Marko confirms huge sum of money paid by Red Bull to replace Perez…Read more.

Sergio Perez has parted ways with Red Bull Racing after a challenging 2024 season, despite having signed a contract extension earlier this year.

The Mexican driver had initially impressed the team with strong performances, earning a deal to stay with the Austrian outfit until the end of 2026.

However, his form declined significantly as the season progressed, with multiple failures to progress past Q1 and poor race results.

Perez’s struggles began in 2023, but Red Bull opted to retain him in hopes of a turnaround.

Unfortunately, his difficulties only deepened, leaving the team with no choice but to terminate his contract prematurely.

Red Bull’s decision came at a significant financial cost, as they were required to buy him out of the remainder of his contract.

Red Bull advisor Helmut Marko confirmed the buyout, stating that it involved millions of dollars.

While he refrained from disclosing the exact figure, Marko noted that the expense was justified under the circumstances.

Speaking to Motorsport.com and other media outlets, he explained that such financial implications are part of operating in Formula 1.

The team’s decision underscores the high stakes and intense performance expectations in the sport, where even brief periods of underperformance can have costly consequences.

Red Bull had placed considerable trust in Perez by extending his contract mid-season, but his inability to deliver consistent results ultimately led to the early termination of their partnership