Sergio Perez has secured his place in Formula 1 for two more years after Red Bull agreed a new multi-year deal.
The two parties verbally agreed to continue their partnership last month and have now put pen to paper on the terms of the contract extension. That decision was made after the team ruled out Carlos Sainz, who is leaving Ferrari at the end of this season, as a candidate for the seat. Team principal Christian Horner challenged Perez to start the new season strongly and got a response from his driver, who secured four podiums from the first five races. It was enough to convince Red Bull that the Mexican deserves to keep his seat.
Perez's form has slipped in the last two race weekends - he finished down in eighth at Imola and crashed on the first lap of the Monaco race, having been only 18th fastest in qualifying. But Red Bull struggled as a whole across those two Grands Prix, especially the latter, with rivals closing the performance gap.
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