Sergio Perez is set to leave Red Bull two years before his contract expires after terminating his contract with the team.
This move comes after a Weak weather for Mexico, Joe failed to win a race and only finished on the podium four times as team-mate Max Verstappen won his fourth world title.
Perez, who has essentially been fired, said: “I am incredibly grateful for the last four years with Red Bull Racing and the opportunity to race with such an amazing team.
“Driving for Red Bull has been an unforgettable experience and I will always cherish the successes we have achieved together.”
Perez, 34, is expected to be replaced by 22-year-old New Zealander Liam Lawson, who is in promotion from sister Racing Bulls team.
Lawson, who has six races at the end of 2024 and five during 2023, is said to be promoted before the end of the Abu Dhabi Grand Prix season.
Frenchman Isaac Hajar, who finished second in Formula 2 this season, is expected to join Racing Bulls alongside Japanese Yuki Sonoda, who has been overlooked by Red Bull for a seat in the senior team.
In Abu Dhabi, Perez expressed his concern about an inexperienced driver being paired with Verstappen.
“Being a team-mate with Max at Red Bull as a young driver, I wouldn’t have liked to be in those shoes, if I’m honest,” Perez said.
“People can’t underestimate the level of challenge in this seat.”
Although Red Bull had already decided to let Perez go, he was reluctant to leave and his management sought the best possible compensation deal before accepting.
“Announcements regarding the team’s full 2025 lineup will be made in due course,” the team said.
Red Bull team principal Christian Horner added: “I would like to thank Chico (Perez) for what he has done for Red Bull Racing over the last four seasons.
“From the moment he joined in 2021 he proved himself to be an exceptional team player, helping us to two constructors’ titles and our first one-two finish in the drivers’ championship.
“Although Chico will not be racing for the team next season, he will always be a very popular team member and a valuable part of our history.”
“It’s been an absolute pleasure driving with you,” Verstappen posted on social media.
“We’ve had some amazing moments together that I’ll always remember.”
