Rumors of Mexican billionaire compensating Red Bull if Sergio Perez costs the team Constructors Championship are untrue: Reports

A recent report claimed that rumors about Mexican billionaire, Carlos Slim, bearing Red Bull's financial loss if Sergio Perez costs them the 2024 Constructors' Championship were untrue. The rumor also claimed that other Mexican sponsors would also cover the cost of losing the title, which was also reported as untrue.

On August 21, the Italian wing of Motorsport.com reported on the aforementioned rumor that several Mexican sponsors, including Mexican magnate, Carlos Slim, could cover any financial loss experienced by Red Bull in such circumstances.

However, shortly after, F1 journalist Thomas Maher wrote on his X account, claiming that the aforementioned rumors were completely untrue. He added that this information came from his sources.

"Claims that Carlos Slim and/or other Mexican sponsors will pay the balance should Red Bull lose the Constructors Championship this year are completely false, sources have indicated to me," Maher posted.

At the beginning of the 2024 F1 season, Sergio Perez was putting up great performances, clinching podium finishes in most races, and was second in the drivers' championship. After the Miami GP, however, Checo's performance saw a drastic decline as he hasn't been able to bag a podium finish since May and is currently in seventh in the table with only 131 points.

Before the F1 summer break, there were rumors that Red Bull could remove Sergio Perez from their roster mid-season. Drivers like Daniel Ricciardo, Liam Lawson, and even Yuki Tsunoda were mentioned as potential replacements for the Mexican.

During the three-week holiday, however, it was widely reported that Checo would remain in the team for the second half of the season.

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Red Bull senior on retaining Sergio Perez for the rest of the 2024 F1 season

Red Bull senior advisor Helmut Marko recently talked about the team's decision to keep Sergio Perez for the rest of the 2024 F1 season and what the Mexican needs to do to keep his seat.

In an exclusive column on Speedweek, Marko explained that Perez does not have to be faster but more consistent in his performances. He then confirmed that the F1 driver will continue to race for Red Bull in the second half of the 2024 season. The Austrian further expressed hope that Perez could replicate last year's performance on the upcoming tracks.

"Pérez doesn't have to get faster, just more consistent. And it is still our best solution given the alternatives," Marko explained.

"Sergio Pérez will continue to be in the Red Bull Racing car after the summer break, because there are now races on tracks where he was good last year and we are relying on stability," he wrote.

Currently, Sergio Perez has a contract with Red Bull till the end of 2026. He signed this contract at the beginning of June.