Sergio Perez inserted a ‘special’ clause in his £7.4m-a-year Cadillac contract that could make him millions

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Sergio Perez has secured his return to Formula 1 after being dropped by Red Bull Racing at the end of 2024.

Cadillac have signed Sergio Perez and Valtteri Bottas as their first driver line-up ahead of their highly anticipated F1 debut next season.

The drivers will have a combined age of 72 when the first race rolls around in Australia, and more than 500 Grand Prix starts between them.

Team principal Graeme Lowdon spoke to plenty of drivers before deciding on Bottas and Perez, but the two race winners appear to have been his first choices from the start.

Perez and Bottas have both signed multi-year deals, with next season expected to be a year of learning for Cadillac, rather than a season of trying to compete.

Cadillac aren’t paying for victories and podiums by hiring Perez and Bottas, but instead the previous experience they’ve accrued racing for top teams like Mercedes and Red Bull, as well as smaller outfits like Force India and Sauber.

However, the Mexican driver has managed to insert a ‘special’ clause in his contract which could end up earning him a lot of money, even if he fails to score a point in 2026.

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

Sergio Perez could benefit from ‘special’ merchandise clause in his Cadillac F1 contract

A report from Record MX has shared more details about the negotiations between Perez and Cadillac.

They believe that Perez’s multi-year deal has a ‘base salary’ of £7.4m-a-year [$10m], which is said to be similar to what he earned at Red Bull.

It puts him among the higher earners on the Formula 1 grid, and at a similar level to Bottas.

However, a ‘large part’ of the 35-year-old’s salary is expected to come down to performance bonuses, such as his points tally in the drivers’ championship and whether he’s able to achieve any podium or race wins.

It’s also believed Cadillac have added ‘special bonuses’ to his contract, with an ‘additional percentage’ of sales from any of Perez’s merchandise going back to the driver.

When Perez was at Red Bull, it was suggested that 65% of the team’s online sales were related to him, which means he could earn millions at Cadillac if he manages to secure a similar ratio.

On top of this, Carlos Slim is still backing Perez, with sponsors such as Telcel, Kit Kat and Patron all still set to back the 25-year-old next season.

It’s believed that when everything is taken into account, Perez might have just ‘one of the most profitable’ deals in modern Formula 1.

READ MORE: All to know about General Motors’ Cadillac F1 team from engine to drivers

Sergio Perez handed Cadillac contract option he never received at Red Bull

Perez might be one of the most experienced drivers in Formula 1 history; however, security is never something he’s had a lot of during his career.

McLaren parted ways with Perez after one season, while he was moved on by Racing Point at the end of the 2020 campaign despite a brilliant year.

At Red Bull, Perez never signed more than a two-year deal, but Perez’s Cadillac contract has been described as multi-year and might have an option beyond 2026 and 2027.

It’s going to take time for Cadillac to be competitive unless they do some remarkable work behind the scenes this year with the smallest workforce in Formula 1.

Perez might not have the quickest car next year, but that doesn’t mean he needs to rely on performance clauses in his contract to add to his salary.