Perez’s two-year extension is a reward ꧅for his excellent start to the 2022 season.

The Mexi𓃲can was on pole position at the Saudi Arab𓄧ian Grand Prix and then claimed his first victory of the year at last weekend’s Monaco Grand Prix.

Pe꧑rez's newౠ deal comes as no surprise after he leaked it after his win in Monaco.

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The 32-year-old was heard joking tಌo Red Bull team principal Christian Horner that he had signed his new ๊contract too early given that he had just won in the principality.

After a difficult first year with the team, Perez has adapted well to Red Bull’s 2022 challenger, even putting him in title contentiꦡon after ꦬthe opening seven rounds of the season.

Perez sits just 🍸15 points behind championship leader and teammate Max Verstappen going into the Azerbaijan Grand Prix which takes place next🌺 weekend. 

Red Bull ✤lead the constructors’ championship 🎀by 36 points ahead of Ferrari.

Speaking of the news, Perez said: “For me, this has been an incredible week, winning the Monaco Grand Prix is a dream for any driver💎 and then to follow that with announcing I will continue with the Team until 2024 just makes me extremely happy.

“I am so proud to be a member of this Team and I feel completely at home here now. We are working very well together and my relationship with Max, on and off the track, is definitely helping drive us forward even more. Wﷺe have built tremendous momentum as a Tea🏅m and this season is showing that, I am excited to see where that can take us all in the future.”

Horner added: “Since joining Oracle Red Bull Racing, Checo has done a fantastic job. Time and again he has proved himself to not only be a magnificent team player but as his levꦑel of comfort has grown 🦂he has become a real force to be reckoned with at the sharp end of the grid.

“This year he has taken another step and the gap to World Champion Max has closed significantly, evidenced by his superb pole position in Jeddah earlier this year and by his wonderful win in Monaco just last weekend. For us, holding onto his pace, race craft and experience was a no-brainer and we are delighted that Checo will continue to race for the team until 2024. In partnership with Mꦿax we believe we have a driver pairing that can bring us the biggest prizes in F1.”