'Talks between Perez and Red Bull not until August at the earliest'

Sergio Perez seemed to reveal his contract extension at Red Bull Racing on his way to the podium after the Monaco Grand Prix he won, but according to information from Marca, there is no final agreement yet. Meanwhile, the medium reasons that this may not even be to Perez's disadvantage.

Indeed, the Spanish website considers it completely out of the question that Pierre Gasly, "a driver who did not get along at all with Verstappen and Helmut Marko," will be promoted to Red Bull. Perez would therefore be in a good position even before serious negotiations have begun.

Currently, the number three in the world championship earns 8 million euros on an annual basis. If Perez is able to maintain his current level, it is very likely that he will also benefit financially from his new contract. Teammate Max Verstappen earns around 40 million euros per season thanks to his new commitment. Perez's 8 million euros is a lot less than his teammate's and so there is room to raise that amount in the negotiations.

One-year or multi-year contract?

Marca states that Perez and Red Bull have not yet sat around the table. That would only happen in August at the earliest, and perhaps in September. In the negotiations, not only salary, but also the duration of the contract will be an important point of discussion. The Mexican driver would very much like to sign on for several years, but it is unclear what Red Bull's plans are. It is possible that they see 2024 as the perfect time to give Gasly a second chance.

Christian Horner indicated in Monaco during the press conference for team bosses on Friday that Perez is on the right track and should continue to perform as he does now. In that case, according to the Red Bull team boss, the negotiations should not be too difficult.