Sergio Pérez is out at Red Bull F1

Red Bull has parted ways with veteran driver Sergio Pérez

The final bit of business from the 2024 Formula 1 season has been completed.

Sergio Pérez is out at Red Bull.

The move was confirmed by Perez and Red Bull on Wednesday, in a statement indicating they had “reached an agreement to part ways.”

Rumors of separating from the team have followed Pérez for most of the two previous seasons, even after the 2023 campaign where the Mexican driver finished second in the F1 Drivers’ Championship, his best career finish. The team even inked Pérez to a contract extension before the 2024 Canadian Grand Prix, a deal that could have kept him at the team through the 2026 season.

But after a strong start to the 2024 campaign, Pérez faded over the second half of the season, and so too did Red Bull’s chances at a third straight F1 Constructors’ Championship. After starting the 2024 season with podiums in four of the first five grands prix, Pérez did not see the podium again, and his best finish after those first five races came at the Miami Grand Prix at the start of May, when he finished fourth.

Pérez tumbled down the F1 Drivers’ Championship standings, finishing eighth. Red Bull finished third in the Constructors’ Championship.

Now, he is out.