While Pérez signed a new contract with the team ahead of the Canadian Grand Prix, reporting indicates that the contract allows for Pérez to be moved into an ambassadorial role.

Even in the throes of a miserable run of form to end what he has labeled a “terrible” Formula One season with Red Bull, Sergio Pérez’s outward confidence about his future has never been shaken. On Thursday,

Veteran driver Sergio Perez is leaving Red Bull Racing after this season, ESPN reported Monday. Perez, 34, sits in eighth place in the Formula 1 drivers standings with one race remaining. The 2024 F1 calendar concludes on Sunday with the Abu Dhabi Grand Prix.

Perez signed a multi-year contract extension earlier this season, but his new terms did little to boost his deteriorating performances, and after a miserable second half of the campaign, ESPN report that Red Bull have made the decision to move on from the six-time Grand Prix winner.

Cristian Horner has ‘invited’ Pérez to leave the team, while ESPN reports that the Mexican will be out of Red Bull after Abu Dhabi.

Mexican Formula 1 star Sergio Perez, one of the top drivers in the sport over the last five years, is expected to part with Oracle Red Bull Racing at the end of this season.

According to ESPN, “Red Bull have decided to move on” after this Sunday’s 2024 Formula 1 season finale in Abu Dhabi. Perez failed to finish the Qatar Grand Prix on Sunday after he said his car lost forward drive as he attempted to accelerate for a green flag.

Sergio Perez is being urged to "come to his own conclusions" by Christian Horner ahead of the season finale in Abu