Sergio Perez aka Checo will be reigning world champion Max Verstappen’s teammate at Red Bull until 2024. The two parties signed a contract on Tuesday, two days after the Mexican won the Monaco Grand Prix. 

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Perez has been a vital cog in Red Bull since joining the team in 2021. He is currently placed third on the driver standings with 110 points, trailing Ferrari’s Charles Leclerc by six and leader Verstappen by 15. The team, which is leading the contructor standings, said that Sergio Perez has signed a two-year extension, adding that the deal was signed last weekend, but before Perez won in Monte-Carlo. 

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“Checo has done a fantastic job. Time and again he has proved himself to not only be a magnificent team player, but as his level of comfort has grown he has become a real force to be reckoned with at the sharp end of the grid,” Red Bull team principal Christian Horner said.

Last season, Perez finished a career-best fourth in the driver standings. He played a big role in Verstappen winning the championship. The 32-year-old won the Azerbaijan Grand Prix, scored four podiums.  In the December season finale, at Abu Dhabi, that decided the F1 championship, he dutifully held up Hamilton during the race to give Verstappen a chance to win.

This season, Perez was controversially denied a potential win at the panish Grand Prix when Red Bull team orders demanded Perez cede the lead — and the victory — to Verstappen.

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“This year he has taken another step and the gap to world champion Max has closed significantly. For us, holding onto his pace, race craft and experience was a no-brainer and we are delighted that Checo will continue to race for the team until 2024. In partnership with Max we believe we have a driver pairing that can bring us the biggest prizes in F1,” Horner said. 

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The Monaco victory pushed Perez past Pedro Rodriguez as the most successful driver in Mexican F1 history. Perez was wearing a Rodriguez helmet in Monaco, where he scored his third career F1 victory.

“This has been an incredible week, winning the Monaco Grand Prix is a dream for any driver and then to follow that with announcing I will continue with the team until 2024 just makes me extremely happy,” Perez said. “I feel completely at home here. We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more.”