Checo Perez justifies million dollar pay rise Red Bull gave him on contract renewal

Formula 1

Recently, Mexican driver Sergio Perez announced that Red Bull Racing had extended his contract for another two years, complete with a hefty pay rise, which Checo claimed he deserved for one simple reason.

Checo Perez won his third Formula 1 Grand Prix in 11 years as a Formula 1 driver
© Mark Thompson/Getty ImagesCheco Perez won his third Formula 1 Grand Prix in 11 years as a Formula 1 driver

Sergio Checo Perez is aware of what it can achieve in the short term with Running of the red bulls. He just won the Monaco Grand Prix and the Azerbaijan Grand Prixthe same as he won in the previous Formula 1 season, is on its horizon. Its future looks bright.

So much so that in addition to celebrating, perhaps a little too much, his victory in Monaco, which made him the Mexican with the most victories in Formula 1 with 3, Checo Perez was delighted with the announcement of his contract extension with Red Bull Racing. The Mexican will be behind the wheel of the Austrian team until 2024.

This renewal allows Perez to continue racing at the highest level in Formula 1, as Red Bull is one of the teams with the best car, and with guarantees of success. However, in addition to the sporting prestige, the Mexican will also enjoy an economic advantage.

The reason Checo Perez justifies his million dollar pay rise with Red Bull Racing

To be part of one of the most powerful teams in Formula 1, like Red Bull, is a privilege that few can have. Quite simply, Checo Perez drives one of the fastest cars on the circuit and is a teammate of the current world champion, Max Verstappen. The salary that the Mexican driver will receive is commensurate with the position he occupies and for him it is fair.

Today I think I’m in the best moment of my career and riding for a team that is always striving for perfection, which is the perfect match for me and any rider. I was very happy to extend my stay with the team until at least 2024, it shows how good a job we have done together and how happy we are with each other. Having decided on my future allows me to focus one hundred percent on the main objective of winning races and world titles.“, read the Checo press release distributed by Red Bull Racing.

Checo Perez’s big payday after contract extension with Red Bull Racing

According Racing News 365Sergio Perez would win $10 million for each of the two seasons in which he extended his contract with Red Bull Racing. This would mean a 50% increase, since until this season he earns “only” 5 million dollars, far from the $25 million per year won by teammate Max Verstappen.

William M. Mayer