Days After Expressing Retirement Wish, Sergio Perez Signs Contract Extension With Cadillac

Less than 10 days after claiming that he will retire from F1 sooner rather than later, Sergio Perez has signed a new multi-year contract with Cadillac F1. The Mexican driver will now stay with the American team until at least the end of 2029.

A statement from Cadillac has confirmed this news on Wednesday, as the team notes that the new deal “reinforces a shared long-term ambition” between Perez and Cadillac. The statement also reads that Perez has brought “invaluable experience, talent and leadership to the team” in its debut F1 season in 2026.

Perez, as well as his teammate, Valtteri Bottas, signed multi-year contracts with Cadillac at the start of 2026, with both making their comebacks to the sport after a year out in 2025. Now, the Mexican has recommitted his future to the team, while Fin’s future hangs in the balance even though he has a valid contract with the team for 2027.

A report from Swiss outlet Blick that came out earlier in October claimed Cadillac no longer believes that its lineup of two veterans is the way forward. Now, with Perez’s contract extended, all eyes are focused on Bottas and his future.

Sergio Perez Shares Cadillac Progress ‘Incredibly Rewarding’

Following the announcement of his new contract, Perez shared a statement, saying that a fresh deal is the ‘natural continuation’ of his commitment to the Cadillac project. The six-time F1 race winner also added that helping build the American team from the ground up is “incredibly rewarding.”

“Joining Cadillac from day one was a project I truly believed in, and extending my commitment feels like a natural continuation of this chapter. Building a Formula 1 team from the ground up takes time, relentless work and patience, but the progress we are making together is incredibly rewarding,” said Perez.

“There is still a lot of work ahead of us and I am fully committed for the next three years,” he added.

Perez then concluded his statement by saying that he will not let the employees at Cadillac or the team’s fans down in the coming years.

What Sergio Perez Had Said About Potentially Retiring Soon

On October 20, Perez gave an interview to Mexican outlet N+, in which the 36-year-old stated that the Cadillac project has taken more out of him than he originally anticipated. He explained that he wanted to spend more time with his family as he hinted that retirement was coming soon for him.

“I think it [Cadillac] is a project that requires more time from me than I initially thought. So, giving you a number is difficult, but I’ll tell you: it won’t be much longer. What holds me back a lot are my children,” said Perez.

“I would love to stay on like Fernando [Alonso], for example, but my kids are already at ages where I want to spend more time with them,” he added.

But now, with the new contract, Perez is set to stay in F1 until he turns 39. If he sees out his new contract, the veteran will have raced in the sport in 18 different years, having made his debut in 2011.

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