As negotiations continue, Perez’s willingness to adjust his salary could be crucial in ensuring Verstappen remains with Red Bull for the foreseeable future. This development underscores the high stakes and intense financial strategies involved in maintaining a competitive edge in Formula 1.

Max Verstappen and Sergio Perez have been team-mates for four seasons now.

Max Verstappen’s Red Bull salary stretches the budget in a way which makes Sergio Perez very useful amid talk of a new contract coming.

That is the claim of Ralf Schumacher, who has identified the sponsorship money which Perez brings to Red Bull as a critical contributor towards the team’s budget.

Sergio Perez needed to cushion Max Verstappen Red Bull salary hit?

Perez first joined the Red Bull team back in 2021 and has since played his part in two Constructors’ title triumphs, with Red Bull chasing a third in F1 2024.

And it has been widely reported that a Red Bull contract extension for Perez is set to be announced, despite the Mexican racer being without a podium since the Chinese Grand Prix.

But according to Schumacher, the financial side is also important with Perez, as that helps Red Bull sustain their budget with three-time World Champion Verstappen’s salary to pay, Forbes valuing that at $70 million.

Speaking to Formel1.de, Schumacher said: “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.”

Perez boasts sponsorship deals with the likes of Disney, Telcel, Mobil, Claro, Nescafé and KitKat.

Max Verstappen Red Bull salary tops F1 2024 list

However, off the back of a P8 at Imola and an opening-lap crash with the Haas drivers in Monaco following a Q1 elimination, Red Bull team principal Christian Horner admitted that they need Perez to step it back up in the face of strengthening competition.

McLaren’s Lando Norris claimed a first F1 victory in Miami, while Ferrari’s Charles Leclerc triumphed in Monaco, where Ferrari trimmed Red Bull’s Constructors’ Championship lead down to 24 points.

Speaking to media including PlanetF1.com after the Monaco GP, Horner said: “Well, look, I mean, this weekend’s been pretty brutal for him.

“We need to make sure that we’ve got both cars up there scoring points, because we cannot dismiss the threat of Ferrari and McLaren in both championships.”

Perez has slipped to P5 in the Drivers’ Championship standings.