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,

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.

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

Despite this, speaking after the Qatar GP, Horner confirmed that the decision to continue with the team was in Perez’s hands, as he provided an update on Red Bull's 2025 driver lineup.

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.

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.

Sergio Checo Pérez's poor performance this year has had direct consequences for Red Bull in the Constructors' Championship

Sergio Perez looks set to exit the Red Bull team after Abu Dhabi, while Franco Colapinto is out of contention as a potential replacement.

Sergio Perez knows the score and will come to his own conclusions about his Formula One future, Red Bull boss Christian Horner said after the Mexican fired another blank on Sunday with his time at the team seemingly close to an end.