Sergio Perez signs new deal to extend his F1 contract with Red Bull for two more seasons, as the rumours floated during Monaco GP.

The news was actually leaked by Perez himself during the F1 Monaco GP when after winning the grand prix, the Mexican was heard saying that he shouldn’t have signed so early when hugging team boss Christian Horner before podium.

Later in the TV interviews and press conference, Perez was asked about the same and he laughed it off with Max Verstappen also having a fun at the expense of the Mexican. That gave it away that Red Bull were set to retain their line-up for 2023 at least.

But they have now confirmed it to be a two-year deal which will see Perez stay with the team until 2024 alongside Verstappen. This leaves Pierre Gasly in a spot of bother who has recently indicated leaving the Red Bull family if there is no seat available.

“Since joining Oracle Red Bull Racing, Checo has done a fantastic job,” said Horner. “Time and again he has proved himself to not only be a magnificent team player but as his level of comfort has grown he has become a real force to be reckoned with at the sharp end of the grid.

“This year he has taken another step and the gap to World Champion Max has closed significantly, evidenced by his superb pole position in Jeddah earlier this year and by his wonderful win in Monaco just last weekend. For us, holding onto his pace, race craft and experience was a no-brainer and we are delighted that Checo will continue to race for the team until 2024. In partnership with Max we believe we have a driver pairing that can bring us the biggest prizes in F1.”

At the same time, Perez added: “For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the Team until 2024 just makes me extremely happy. I am so proud to be a member of this Team and I feel completely at home here now.

“We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more. We have built tremendous momentum as a Team and this season is showing that, I am excited to see where that can take us all in the future.”

Here’s Sergio Perez and Carlos Sainz on their Monaco fight

Here’s why FIA rejected Ferrari’s protest