“He knows he must perform” - Red Bull chief discusses Sergio Perez’s new contract demands 

Red Bull advisor Dr. Helmut Marko outlined the terms of Sergio Perez's possible contract extension post the current F1 season.

Perez has raced with the Milton Keynes outfit since the 2021 season. While he was seemingly competitive initially, he struggled to keep pace with teammate Max Verstappen. There were multiple incidents earlier that affected his performance despite having an extremely competitive car.

Currently, Sergio Perez is in the final year of his contract. It was speculated that the team was in talks with other drivers like Carlos Sainz of Ferrari with regard to the future. However, Helmut Marko recently revealed that an extension for Perez still might be in on the cards if he performs well. He told Motorsport:

"We are not yet in a position to finalize everything. But it has nothing to do with regulations. He knows he must perform.”

He further revealed that Perez had demanded a three-year contract earlier.

“At first he wanted a three-year contract, but we will find a solution."

Sergio Perez was instrumental in Max Verstappen's first world championship victory in the 2021 season. He finished fourth in the championship then. Following that, he finished third in the 2022 season after losing out to Ferrari's Charles Leclerc. In 2023, he finished as runner-up in the championship.

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Sergio Perez's father believes he will be in F1 for the next decade

The 34-year-old is one of the most experienced drivers on the grid. He debuted in 2011 with Sauber and then raced for Force India, and Racing Point, finally moving to Red Bull in 2021.

Speaking of his future, which is currently uncertain (at Red Bull, at least, given the conditions), his father Antonio Perez made a bold claim, stating that he will be present on the grid for the coming ten years. He also mentioned that Perez has more sponsors than Max Verstappen and Lewis Hamilton.

"We will have Checo for 10 more years [in F1]," he told Relevo.

"He has many options and is the most sought-after driver in F1 today, above all, he is the one with the most sponsors, more than Max and [Lewis] Hamilton combined."

"Companies all over the world turn to him, the best promoter of anything in the world is Sergio Perez. There is never of his merchandise left because it always sells out quickly."

Sergio Perez might move to a different team if Red Bull does not extend his current contract. He has been driving competitively and sits second in the championship.