Sergio Perez has told Red Bull how much it would cost to buy him out of his contract before next season

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Red Bull Racing driver Sergio Perez is insistent that his time in Formula 1 isn’t about to come to an end.

Sergio Perez has had a glittering F1 career spanning more than a decade.

After finishing runner-up in GP2 in 2010, Perez enjoyed two seasons at Sauber before a difficult campaign with McLaren.

A move to Force India who subsequently became Racing Point – a move in which Perez was vital to the survival of the team – brought out the best in the Mexican driver.

At the end of the 2020 season, it looked like Perez’s time in Formula 1 was over, but an incredible first victory in the sport was enough to convince Red Bull that he was the right man to replace Alex Albon.

Coming up against Max Verstappen hasn’t been easy and even when he finished 2nd in the Drivers’ Championship last year, question marks were beginning to appear over whether he was the right man for the job.

Unfortunately, his performances haven’t improved enough this season to guarantee him a place on the grid next year, despite signing a contract extension that could run until the end of 2026 during the Canadian Grand Prix weekend.

A report from F1 Insider has now shared how much Perez would demand if Red Bull were going to buy out his contract.

Alongside the cost of finding a replacement and the loss in value from his personal sponsors, it makes an already difficult decision even harder.

Sergio Perez to demand £15.7m fee to walk away from 2025 Red Bull contract

Perez will want to concentrate on the final three races of the season as much as possible, knowing that a sudden upturn in form could help Red Bull in their quest to win the Constructors’ Championship.

Helmut Marko has said that Red Bull will only decide on their final driver line-up for next year after the Abu Dhabi Grand Prix, but it would be a surprise if talks weren’t already ongoing behind the scenes about the best course of action to take.

Perez’s new contract removed any performance-related clauses that would have allowed Red Bull to move him on easily in the past, at the request of team principal Christian Horner who has always been a big believer in the 34-year-old.

READ MORE: Red Bull driver Sergio Perez’s life outside F1 from net worth to nickname

This echoes what Perez’s manager told Damon Hill about his contract earlier in the season.

The report says that talks ‘behind the scenes’ suggest that Perez wants £15.7m [$20m] to walk away from his contract next year.

However, the competitive six-time race winner is much more likely to want to stay on the grid, rather than take the money.

The knock-on effects of buying Sergio Perez out of his Red Bull contract

If Red Bull decide that Perez does have to make way, then his £15.7m demand wouldn’t be the only cost that they incur.

Perez’s sponsors have been told he’s staying for the start of the 2025 season, but if he was let go, then Red Bull would likely lose a lot of that value as well.

The team would also have to find a replacement and Red Bull have concerns about promoting Isack Hadjar, meaning a driver from another team would likely need to be brought in.

READ MORE: Everything you need to know about Red Bull Racing from engine to Ford links

The obvious option is Williams driver Franco Colapinto who has impressed this season after replacing Logan Sargeant and doesn’t have a race seat for next year.

Williams are expected to demand £15.7m for Colapinto from Red Bull as the Anglo-Austrian team have no interest in signing him on loan.

Although Colapinto brings sponsors of his own, it’s unknown whether they could match the value Perez brings.

The simplest solution for Red Bull is for Perez to rediscover his best form over the next few weeks.