Perez’s existing deal – signed in 2022 – was set to expire at the end of the current campaign, but Red Bull have moved to keep him onboard for at least the next two terms.
It comes amid a particularly busy driver market, with most outfits yet to confirm their full driver line-ups and plenty of conversations taking place behind the scenes.
Perez, though, will be extending his stay at Red Bull into a landmark fifth season and beyond, having joined the squad from Racing Point – now Aston Martin – back in 2021.
Since then, Perez has taken five Grand Prix victories – spread across 2021, 2022 and 2023 – and bagged three pole positions, claimed over the latter two years.
He finished a career-best second behind team mate Max Verstappen in the championship last season, helping Red Bull achieve a maiden one-two result alongside the constructors’ title.
“I am really happy to commit my future to this great team. It is a challenge like no other racing for Oracle Red Bull Racing, both on track and off track,” stated the 34-year-old Perez.
“I am delighted to be staying here to continue our journey together and contribute to this team’s great history for two more years. Being part of the team is an immense challenge, and one I love.
“We have a great challenge this year and I have full trust in the whole team that the future is bright here and I am excited to be part of it.
Red Bull team boss Christian Horner added, “Now is an important time to confirm our line-up for 2025 and we are very pleased to continue working together with Checo.
“Checo has had a strong start to 2024 with second places in Bahrain, Saudi Arabia and Japan and then his podium in China. The past few races have been tough, there is convergence on the grid, but we are confident in Checo and look forward to his return to proven form and performance, that we so often see.
“Last year was a unicorn season and we will need to work hard to retain our titles, but we are assured in our line-up and with the team as a whole, which is imperative in what is shaping up to be a close fought championship this year.”
Perez sits fifth in the standings after eight of this season’s 24 rounds, behind Verstappen, the two Ferrari drivers and McLaren’s Lando Norris, while Red Bull lead the Scuderia by 24 points in the constructors’ battle.
