Red Bull reward Monaco man Perez with new deal to 2024

Red Bull on Tuesday announced they have rewarded Sergio Perez with a fresh two-year deal until 2024, with the Mexican signing in Monaco last weekend.

The new contract gave Max Verstappen's teammate double cause for celebration after he emerged from all the chaos caused by a pre-race deluge to win the iconic Grand Prix.

"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," said team boss Christian Horner.

Perez, 32, moved to within 15 points of world champion Verstappen in the Formula One drivers' standings after rising above all the mayhem on Sunday, that fine win coming after three second-place finishes.

He joined Red Bull last season, claiming a win on another street circuit in Azerbaijan with four further podiums to finish fourth behind his Dutch colleague.

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."

Horner, in his statement, noted the popular Perez had done a "fantastic" job and stepped up a gear in his second year with the team.

"Time and again, he has proved himself to not only be a magnificent team player but as his level of comfort has grown, he has become a real force to be reckoned with at the sharp end of the grid," Horner remarked.

"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."