The newest Formula 1 outfit Cadillac has officially announced a major contract extension with Sergio Perez, securing the veteran driver's seat through to the end of the decade until at least 2029.
This announcement arrives on the eve of the Mexican Grand Prix, marking a special home race weekend for Sergio Perez. Both he and fellow veteran teammate Valtteri Bottas had initially joined the upstart squad on multi-year deals that were not widely anticipated to stretch beyond 2027.
Team CEO Dan Towriss emphasized the satisfaction and long-term vision behind retaining the Mexican driver's experience and leadership as the organization continues to navigate its developmental phase in the world championship.
"Building a competitive team in F1 is a long-term journey, and securing Checo's talent and leadership gives us the continuity and commitment we need to build on the strong foundation established in our first year," said Dan Towriss.
While neither driver has managed to break into the points scoring positions this season—with Sergio Perez having a tenth-place finish in Monaco stripped away by a post-race time penalty—performance comparisons inside the garage have favoured him, particularly in race pace and qualifying margins.
Meanwhile, the situation remains less certain for Valtteri Bottas, whose future beyond the current phase has not yet been locked in by the management, leaving alternative options such as Colton Herta, Frederik Vesti, and Yuki Tsunoda in the background discussion.
This weekend also signifies a milestone moment as Sergio Perez is set to record his 300th F1 start, making him just the seventh driver in history to reach the milestone. Fulfilling this new agreement will see him compete into his 18th season at 39 years of age.
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