The incredible amount of money Sergio Perez sponsors Telmex have poured into Red Bull since he joined

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For Red Bull, a big part of the motivation for keeping Sergio Perez is financial. On performance alone, he arguably doesn’t deserve to retain his seat.

Heading into next weekend’s Las Vegas Grand Prix, Perez sits eighth in the championship – lowest of all the drivers from the frontrunning teams. But what really stands out is the gap to Max Verstappen.

After Verstappen’s remarkable victory in Sao Paulo, it’s grown to a whopping 242 points. Last year, it stood at a record 290, and it could feasibly be even bigger this time.

There was concern that Verstappen would suffer without his teammate supporting him in a fight against Lando Norris, who races alongside the formidable Oscar Piastri. Fortunately for Red Bull, the Dutchman has brushed off this potential issue and could seal the title with two races to spare.

However, Perez has clearly cost Red Bull in the constructors’ standings. 49 points adrift of McLaren, they look set to relinquish their title and, worse still, finish behind Ferrari.

But while the argument for a change is compelling on this basis, Perez wants £15.7m to walk away. And the team would also lose out on an array of commercial incentives tied to the 34-year-old.

Red Bull have received more than £100m from Telmex since Sergio Perez joined in 2021

Since the early days of his racing career, Perez has been backed by Mexican telecommunications ‘titan’ Telmex. When Red Bull signed him at the end of 2020, after Racing Point released him in favour of Sebastian Vettel, they reaped the benefits of this relationship.

According to a report from Brazilian outlet Grande Premio, Telmex have pumped $130m into the team since his arrival. That’s the equivalent of about £103m.

The logos of Telmex subsidiaries like Telcel and Claro appear on Perez’s helmet and the Red Bull livery. He also has deals with Disney, who produced a documentary about his 2023 season, and KitKat, which has just become Formula 1’s official chocolate bar.

A team like Red Bull is wealthy enough to make personnel decisions on merit. But the report states that Perez’s sponsors carry ‘huge weight’.

How Sergio Perez sponsorship revenue compares to constructors’ championship prize money

There is a monetary cost to keeping Perez, even beyond his salary. Perez leads the way for crash damage this year, and while he’d dismiss that as an aberration, his habit of qualifying in the midfield increases the risks.

What’s more, Red Bull could lose out on constructors’ prize money. With the competitive landscape set to be similar next year, it’s hard to see them finishing any higher than third unless Perez makes a lasting breakthrough.

Based on Autosport findings, there’s a difference of £14m between finishing first and third in the standings. But equally, the figures above put Telmex’s enormous investment in a favourable context.

Of course, a potential replacement could bring money too. Franco Colapinto’s sponsors will pay £42m to secure him a seat for 2025, which makes the Williams driver even more tempting.