Sergio Perez news LIVE: F1 latest as Red Bull axe Mexican driver and line up replacement

"While Checo will not race for the team next season, he will always be an extremely popular team member and a treasured part of our history.

“Thank you, Checo,” added Horner at the end of his statement.

Red Bull team principal Christian Horner also gave a statement, in which he thanked Perez and praised his contribution over the years.

“I would like to thank Checo for all he has done for Oracle Red Bull Racing over the past four seasons," Horner said.

“From the moment he joined in 2021 he proved himself to be an extraordinary team player, helping us to two constructors' titles and to our first 1-2 finish in the drivers' championship,” he added.

In the final part of his statement, Perez gave "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!"

Perez’s future in F1 remains in doubt, with no seat currently available on the grid next season.

"A big thank you to every person in the team from 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.

He also extended a thank you to teammate Max Verstappen, adding: “It's also been an honour to race alongside Max as a teammate all these years and to share in our success.”

Perez has released a statement regarding the news, in which he thanks Red Bull and reflects on his time there.

"I'm incredibly grateful for the past four years with Red Bull Racing and for the opportunity to race with such an amazing team,” he said.

“Driving for Red Bull has been an unforgettable experience, and I'll always cherish the success we achieved together.

“We broke records, reached remarkable milestones and I've had the privilege of meeting so many incredible people along the way.”

For Perez, it was a matter of when rather than if Red Bull would let him go.

He joined the team in 2021, but this season came under increasing pressure as the Formula One campaign wore on – finishing a whopping 285 points behind his team-mate Max Verstappen as Red Bull surrendered their constructors’ championship title to McLaren.

Verstappen clinched his fourth consecutive drivers’ world title while Perez, 34, finished eighth in the standings, failing to finish in the top five in his final 18 races for the team.

Liam Lawson set to be promoted from RB to become Max Verstappen’s teammate.

Lawson, who replaced Daniel Ricciardo at RB in September, has impressed since filling in for the Australian and The Independent understands Lawson will be the man to take Perez’s seat with the main Red Bull team in 2025 ahead of Yuki Tsunoda.

The worst-kept secret in Formula One has today been confirmed: Sergio Perez is leaving Red Bull and will not be part of the team next season.

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Welcome along to live reaction to the news that Sergio Perez has been axed by Red Bull ahead of the 2025 F1 season.