The 34-year-old Perez is currently fifth in the 2024 drivers' standings with 107 points, with the Netherlands' Max Verstappen topping the list with 169 points.

The Mexican driver's decision to agree to a two-year contract extension comes amid a particularly busy driver market, with most organizations having yet to confirm their full driver line-ups and plenty of negotiations taking place behind the scenes. Is. Pérez, however, will extend his stay at Red Bull to a historic fifth season and beyond, joining the team from Racing Point – now Aston Martin – in 2021.

Since then, Perez has taken five grand prix wins in 2021, 2022 and 2023 – and three pole positions, as claimed in the latter two years. He finished a career-best second in the championship last season behind teammate Max Verstappen, helping Red Bull secure the constructors' title as well as a one-two result for the first time.

“I am really happy to commit my future to this great team. It's a challenge like no other racing for Oracle Red Bull Racing, both on track and off track. I'm glad to be here to continue our journey together and contribute to the great history of this team for two more years. "It's a great challenge to be part of the team and I love it," Pérez said of his contract renewal.

Red Bull team boss Christian Horner said: “Now is an important time to confirm our line-up for 2025 and we are very pleased to continue working closely with Checo.

"Continuity and stability is important for the team and both Checo and Max are a successful and strong partnership, having achieved a first-ever one-two finish for the team in the championship last year," he said.