Red Bull have been left to rue handing Sergio Perez a new contract in 2024 just month before they decided to release the Mexican driver.
After the season-ending Abu Dhabi Grand Prix, it was confirmed Perez and the team had reached an agreement to part ways with immediate effect.
Liam Lawson will now make the step up from RB to become Max Verstappen's team-mate, having been favoured over Yuki Tsunoda.
Perez started the season strongly, landing four podium finishes in the first five Grands Prix.
His form was enough to persuade Red Bull bosses to extend his stay, having previously been linked with a move for outgoing Ferrari driver Carlos Sainz Jnr.
His new deal was due to run until the end of 2026, a year longer than his previous contract.
But things deteriorated as the year went on for Perez. He ended the campaign with no further top-three finishes to his name.
He laboured to eighth in the drivers’ standings with 152 points, and his performance essentially cost Red Bull a third straight constructors’ title.
The decision to terminate that contract so early has left the Austrian-based team now needing to hand him a two-year pay-off.
And speaking to Sport.de, he was asked if that figure would run into millions, replying with: “We are in Formula One, so yes.”
Marko was said to have refused to name the exact amount owed. Perez was reportedly on around £11.2million a year at Red Bull, having joined the team at the start of the 2021 campaign.
But the 34-year-old is now without a role for the 2025 season. His departure came after all other F1 outfits had finalised their line-ups, and he’s yet to secure a spot at a team as a reserve driver either.
Perez played a critical role in Verstappen dramatically beating Lewis Hamilton to the 2021 world title, although the pair would explosively fall out a year later.
He finished second in the standings behind the Dutchman last year, his best career campaign.
And after his premature departure was announced, the former Sauber and Force India driver was dignified. In a released statement, he labelled his four seasons with the team as “unforgettable.”
"I'm incredibly grateful for the past four years with Oracle Red Bull Racing and for the opportunity to race with such an amazing team," he said.
"Driving for Red Bull has been an unforgettable experience and I'll always cherish the successes we achieved together."
