“Back to work”: $50M F1 star Sergio Perez calms Red Bull dismissal rumors with his recent IG story 

Following yet another disappointed showing in the British GP, Sergio Perez is rumored to be under threat of losing his seat at Red Bull Racing mid-season. Amid the swirling rumors, Perez remains focused on improving his results and is putting in the effort at the factory.

Despite securing a two-year contract extension, Perez's recent struggles in qualifying and lackluster race-day performances have raised doubts about his future, especially as the competition for the Constructors' title intensifies.

Amid speculation about his future with Red Bull, Sergio Perez visited the team's Milton Keynes factory, to prepare for the upcoming races before the summer break. Perez, whose net worth is estimated at $50 million (according to Celebrity Net Worth), shared a glimpse of his visit on Instagram on July 12.

"Back to work 💪" he wrote on Instagram stories.

Sergio Perez's 2024 F1 campaign was off to a solid start. However, his results have spiraled downwards since the Imola Grand Prix. He has only managed two Q3 appearances in the last six races, achieving a best finish of seventh place at the Austrian GP.

Perez's struggles have ramped up the fight for the Constructors' title, prompting Red Bull team principal, Christian Horner to admit that it's "unsustainable" for the Mexican driver to finish out of point-scoring positions. Following Perez's 17th-place finish in the British GP, Horner said (via F1.com):

"[Perez] knows it’s unsustainable to not be scoring points – we have to be scoring points in that car, and he knows that. He knows his role and his target, so nobody is more eager than Checo to find his form again."

"It’s something we’re acutely aware of, that to win the constructors’ championship you need both cars scoring," he added.

Red Bull Racing leads the Constructors' Standings, with 373 points, ahead of Ferrari in second place with 302 points. McLaren and Mercedes have outscored the reigning champions in the past few races, sitting at 295 and 221 points respectively.

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Red Bull team principal says Sergio Perez is feeling the pressure

Red Bull team principal Christian Horner acknowledged that Sergio Perez feels pressure despite signing a contract extension. Horner added that the pressure only continues to mount if the results continue to spiral downwards. Following the British GP, Horner said:

"Checo, of course he’s under pressure – that’s normal in Formula 1 – but when you’re underdelivering, that pressure only mounts, and he’s aware of that. He knows that. This weekend, nothing’s really gone his way," Horner said after the British GP, via F1.com.

Red Bull reserve driver Liam Lawson's recent test at Silverstone also fueled the rumors surrounding Sergio Perez's exit from the team. Horner clarified that the test had been scheduled months ago, and had nothing to do with Perez's slump.