After conquering the zenith of F1 with an overpowering championship win in 2023, Red Bull is unable to match their best this year. The Milton Keynes outfit has already missed 3 victories out of 8 races, unlike in 2023, when they lost only one in the entire year. Furthermore, Helmut Marko has claimed Sergio Perez‘s horrific Monaco GP crash has set them back by nearly $3 million. But there could be a conspiracy theory here against the Mexican driver.

With Max Verstappen as his teammate, the odds are against Perez, anyway. Moreover, the 34-year-old’s dwindling form, a sad repeat of 2023, isn’t helping his contract renewal with Red Bull. Despite this, Team Principal Christian Horner has been supportive of him. But Perez’s Lap 1 crash in Monaco with Kevin Magnussen caused terminal damage to his RB20. With a strict budget cap governing F1 teams’ expenditure, a $3 million write-off is a huge setback.

F1 Expert Richard Ready has theorized that Marko and Horner being vocally concerned about this mammoth recovery cost could be a way to divert attention from their inability to upgrade the RB20. During the Missed Apex F1 podcast, Ready said, “They are struggling with upgrades and it’s kind of a convenient cover to go, ‘Well, we would’ve had more upgrades but that Perez, eh!'” With technical genius Adrian Newey already out, Red Bull could be floundering for excuses to cover their hit-and-misses. But a new development in their partnership with Sergio Perez has highlighted how the Guadalajara-born racer has certain leverage over Christian Horner & Co.

Red Bull forced to retain Sergio Perez to afford Max Verstappen’s salary

Max Verstappen bagged $70 million in 2023—$45 million in basic + $25 million in bonuses. Comparatively, Sergio Perez, who only took $26 million home, also provides Red Bull with multimillions through his extensive sponsorship deals. Disney, Mobil, Telcel, and Kitkat are a few of the top companies that make the list. Former F1 driver Ralf Schumacher believes Perez’s sponsorship power keeps major Red Bull criticism at bay.

“You shouldn’t forget, as long as Max Verstappen stays, that’s what I’ve heard at least once, the budget limits are relatively tight at Red Bull, and Perez brings money,” Schumacher told formel1.de. Perez currently has a 1-year Red Bull contract offer on the table. But his desire for a 2-year deal has brought the negotiations to a halt. Unless the sponsorship leverage gives him an edge in the team’s cost-benefit analysis, 2024 could be the end of the road for the 34-year-old in F1.

What’s your take on Sergio Perez’s current dynamics? Share your thoughts in the comments below.