Sergio Perez’s New Cadillac Deal Worth More Than $100 Million Over Three Years, Insiders Claim

Ahead of the Mexico City GP, Sergio Perez (Checo) and Cadillac signed a historic new contract that will see the driver stay with the American outfit until 2029. Not only does the extended stay guarantee an important asset for the American team to help grow into the midfield, but it also hands Perez the best contract he has ever received in F1.

According to the latest reports, Perez’s new deal includes a total package valued at over $100 million for three years. The figure includes Checo’s base salary, as well as his potential performance bonuses corresponding to immediate results.

With this deal, not only will the 36-year-old race in F1 until he is nearly 40, but he will also be placing himself alongside five of the highest-paid drivers on the grid. Max Verstappen, Lewis Hamilton, Lando Norris, Fernando Alonso, and Charles Leclerc currently stand as the five highest-paid drivers in F1, meaning Checo will become the sixth highest-earning driver on the grid.

The number marks a serious jump in Perez’s earning status over the last few years, with the Mexican driver earning a base salary of $12 million in 2024. With an additional bonus of $7.5 million, the now 36-year-old sat eighth in the overall rankings of the highest-paid drivers that year.

Averaging more than $33 million per year with his latest contract, Perez has certainly landed the best deal of his career, but it also happens to be his last.

Sergio Perez Has Signed His Final Contract in F1

Following a complicated exit from Red Bull in 2024, many people thought that Perez‘s time in F1 was up. Two years after the events, the six-time Grand Prix winner finds himself as the leader of the Cadillac project. Despite the lack of points, the team had no second thoughts about retaining his services.

For Perez, joining a top team was not a realistic target, so there wasn’t a more exciting prospect than getting to build something new with a young team on the grid. And while he would love to continue doing it all for 10 more years, Perez understands that his age is “getting there.”

With his children growing up, the Mexican driver understands that they are going to be at ages where his presence will mean the world to them. Therefore, the 36-year-old did not shy away from revealing that the next three years were going to be his last in F1.

With a retirement date set for his F1 career, Checo’s focus now turns to his home race in Mexico City. The famed driver will be celebrating 300 race starts in F1 in front of his home crowd, and that’s a milestone very few drivers have reached.

Sergio Perez Has a Milestone Race in Mexico

Perez’s status in his home country has always been legendary. The driver, who has never won an F1 title, is revered in Mexico, and when the lights go green in Mexico City on Sunday, his status will only be uplifted.

And it seems like it was a moment that was meant to be since the Mexico race was originally going to be the 301st race start. However, with the cancellation of the Saudi Arabia race, Perez gets to join an elite club in front of his home crowd.

“It couldn’t really be any better,” is what the Mexican driver had to say at the prospect of his 300th start in Mexico.

Having once thought that he would not get to race in front of his home crowd ever again after the 2024 Mexico race, the 36-year-old now stands at the precipice of joining Alonso, Hamilton, Kimi Raikkonen, Rubens Barrichello, Jenson Button, and Michael Schumacher in the 300-race club.

More F1 Reading

• Jenson Button Sides With Liam Lawson As Racing Bulls Weigh F2 Standout Nikola Tsolov for 2027
• Jack Doohan Could Make Shock F1 Return With Haas in São Paulo As Ryo Hirakawa Faces WEC Clash
• ‘Just Like a Zoo in the Paddock’: Max Verstappen Defends Teammate Hadjar After FIA Warning
• ‘The Grip Disappears’: Andrea Stella Owns McLaren’s Mexico GP Qualifying Setback