Sergio Perez and Red Bull have reached an agreement to part ways with immediate effect ahead of the 2025 Formula One season. 

Perez, who signed a new two-year contract in June, leaves following a four-year stint with the team after making the move from Racing Point back in 2020. 

During his time with Red Bull, the Mexican won five races, claimed three pole positions and collected 29 podium finishes, while also amassing 932 points in total. 

Perez played a starring role in the 2023 season, finishing second in the drivers' standings with a career-best 305 points as he helped team-mate Max Verstappen win his third world championship. 

However, his form tailed off after putting pen to paper on his new deal, with Perez scoring just nine points in the last eight grand prix weekends of the 2024 season.

Four of Perez's 37 F1 retirements came this season. Only in 2012 (six) had he suffered more in one year in the competition (also four in 2014). 

He ended up down in eighth in the drivers’ championship, with Red Bull failing to defend their constructors’ championship, finishing third behind Ferrari and champions McLaren. 

Gracias por todo Checo

After four successful seasons together, Sergio Pérez and Oracle Red Bull Racing have reached an agreement to part ways for 2025. pic.twitter.com/NAZFN87aKi

— Oracle Red Bull Racing (@redbullracing) December 18, 2024

"I’m incredibly grateful for the past four years with Oracle Red Bull Racing and for the opportunity to race with such an amazing team," Perez said in a statement. 

"Driving for Red Bull has been an unforgettable experience, and I’ll always cherish the successes we achieved together. We broke records, reached remarkable milestones, and I’ve had the privilege of meeting so many incredible people along the way.

"A big thank you to every person in the team from the management, engineers and mechanics, catering, hospitality, kitchen, marketing and communications, as well as everyone at Milton Keynes. I wish you all the best for the future.

"It has also been an honour to race alongside Max as a team-mate all these years and to share in our success. A special thank you to the fans around the world, and especially to the Mexican fans for your unwavering support every day. We’ll meet again soon. And remember… never give up."

Liam Lawson is favourite to step up from RB to Red Bull, with Yuki Tsunoda looking set to miss out on promotion, despite driving for Red Bull at the post-season testing in Abu Dhabi.