Sergio Pérez, Formula 1
Sergio Pérez has been part of the Red Bull Racing team since 2021; his current contract is set to expire at the end of the 2024 season

SEATTLE - After a dream start to the 2024 Formula 1 season, Sergio 'Checo' Pérez has struggled to find his best form in recent weeks, especially considering he finished the latest race on another bad note.

During the Monaco Grand Prix, which took place on May 26, the Mexican driver qualified 18th before colliding with Kevin Magnussen on the first lap, ending his participation early at one of the most coveted races in the circuit.

But despite three consecutive finishes without a podium, 'Checo' remains as the favorite to stay with Red Bull beyond the 2024 season, according to sources close to ESPN.

The Mexican signed with Red Bull Racing ahead of the 2021 Formula 1 season and, since then, he has had a fairly successful career with the Austrian team. Five of his six career wins in F1 have come with Red Bull. He has also recorded 27 podium finishes since 2021.

But despite the good results, no driver is safe from the crazy reshuffle that is expected to happen around Formula 1 during the offseason. Lewis Hamilton will join Ferrari in 2025, Carlos Sainz is still deciding where he goes next and even three-time world champion Max Verstappen is considering his future with Red Bull as he has been linked with a move to Mercedes in 2026.

But putting all the noise to the side, it remains unlikely that Red Bull will opt for another driver other than Pérez to partner Verstappen for 2025. According to ESPN sources, the Mexican remains the favorite to stay with Red Bull and only a "drastic drop in form" could change that.

Team boss Christian Horner had some encouraging words for 'Checo' after his unfortunate accident. "This weekend's been pretty brutal for him," Horner said. "Checo's first six races, he was very strong, qualifying on the front row and finishing second and third and scoring very well. We just need to get back into that position of confidence and not to see a dip," Horner added.

When asked if 'Checo's' form over the last three races have anything to do with his contract extension, the Red Bull boss dismissed any negative speculations. "Not really. I think that it's more our timing. We'll make a decision in the fullness of time," Horner said.

The next stop for Pérez and the Formula 1 world will be the Canadian Grand Prix at the Gilles Villeneuve circuit in Montreal.

After three negative races for Pérez' standards, the Mexican has been relegated to fifth place in the driver standings, 31 points way from Carlos Sainz Jr. in second place. 'Checo's' best result at the Canadian GP came in his second season in Formula 1 with Sauber, earning a third-place finish in 2012.

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