“Sergio Perez brings money”: Ralf Schumacher on Red Bull’s dependency on the Mexican to keep Max Verstappen

Former F1 driver turned pundit Ralf Schumacher opined that Sergio Perez's sponsorship power could help Red Bull keep Max Verstappen. He added that the Austrian team is already on a tight budget because of Verstappen's hefty payroll.

According to Forbes, the Dutchman earned a total of $70,000,000 in the 2023 F1 season. His base salary was $45,000,000 and he earned $25,000,000 in bonuses. According to Celebrity Net Worth, Verstappen's current annual salary is $55,000,000, which is more than any other driver on the grid.

In the past, several rumors have emerged on whether Red Bull would keep Sergio Perez or remove him because of his underwhelming performances in certain races. Since the Mexican's current contract expires in 2024, his contract rumors have picked up speed. Many have reported that a deal between the driver and the team is imminent.

During an interview with Formel1.de, Ralf Schumacher claimed Red Bull could retain Checo, particularly for the massive sponsorships he brings with him. He believed that Perez's sponsors could help the Austrian team handle Max Verstappen's exorbitant salary.

“You shouldn’t forget, as long as Max Verstappen stays, that’s what I’ve heard at least once, the budget limits are relatively tight at Red Bull, and Perez brings money,” Schumacher said in German. [Translated by Google]

As of now, neither Sergio Perez nor Red Bull have announced anything related to their contract.

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Red Bull senior on Sergio Perez's contract extension

Red Bull senior advisor Helmut Marko recently stated that his team could not have a clearer picture of their future driver lineup till the F1 races in the Spanish GP on June 23. The Austrian also addressed that though Sergio Perez was a great candidate, he was not on the top of the teams' shopping list. Speaking to Motorsport.com, he said:

"I think we have a clear picture of Barcelona. I think we at least have a good picture ourselves. I wouldn't say pole position, but he [Perez] is in a good position."

Sergio Perez has been racing for Red Bull for more than three years now. He was a massive help in his debut season with the team. On several occasions, he helped Max Verstappen fight Lewis Hamilton for the 2021 world championship. His best season with the team was in 2023, in which he secured second place in the drivers' championship table for the first time.

After eight races in the 2024 F1 season, Perez is down in fifth place in the table with only 107 points. He is behind both Ferrari drivers Charles Leclerc and Carlos Sainz, and Mclaren's Lando Norris.