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Sergio Perez and Red Bull Racing reached an agreement to part ways, marking an end to a tumultuous period for the Mexican driver and the F1 team.

The move comes after Red Bull finished third in the 2024 constructors’ championship as Perez struggled in his worst campaign since joining the team.

Red Bull teammate Max Verstappen won his fourth consecutive drivers’ championship, but Perez finished eighth overall. The 34-year-old racer had finished second in the 2023 standings.

Perez joined the Red Bull team in 2021 and signed a two-year contract extension in June, but his downward trajectory since caused Red Bull to explore options for his replacement.

“I’m incredibly grateful for the past four years with Oracle Red Bull Racing and for the opportunity to race with such an amazing team,” Perez said in a statement on social media.

“Driving for Red Bull has been an unforgettable experience and I’ll always cherish the successes we achieved together. We broke records, reached remarkable milestones, and I’ve had the privilege of meeting so many incredible people along the way.”

Perez reportedly had an offer to take on ambassador-type role with Red Bull but opted to walk away from his contract altogether

Red Bull team boss Christian Horner expressed his thanks for Perez’s contributions to the team the past four years.

“From the moment he joined in 2021 he proved himself to be an extraordinary team player, helping us to two constructors’ titles and to our first one-two finish in the drivers’ championship,” Horner said.

“His five wins, all on street circuits, were also a spectacular mark of his determination to always push to the limit. While Checo will not race for the team next season, he will always be an extremely popular team member and a treasured part of our history. Thank you, Checo.”

Perez has recorded six wins and 39 podium finishes since making his F1 debut in 2011. His last victory was the 2023 Azerbaijan Grand Prix.

Though no official announcement has been made, Perez’s reported replacement is 22-year-old Liam Lawson, who had been on the Red Bull junior team since 2019. The New Zealander took over Daniel Ricciardo’s seat for Red Bull’s RB team (formerly AlphaTauri) this season and has 11 F1 starts to his credit.

Isack Hadjar, a dual citizen of France and Algeria, is expected to take Lawson’s spot with the RB team alongside Yuki Tsunoda of Japan. Hadjar finished second on the F2 circuit in 2024 with Campos Racing.

–Field Level Media