Sergio Perez signs contract extension with Cadillac Formula 1 Team

Sergio Perez signed a contract extension with the Cadillac Formula 1 Team that keeps him with the American outfit until at least 2029. This announcement comes days before the 36-year-old makes his 300th Grand Prix start at his home race in Mexico City. To mark the occasion, Perez will take to the streets of the Mexican capital for a show run. Perez joined the fledgling team at the start of the 2026 campaign following a year on the sidelines in 2025 after Red Bull replaced him. The 36-year-old sits 23rd in the 2026 Formula 1 Drivers’ Championship, and his team has yet to score a single point.

Perez achieved his best results this season with 14th place finishes at the Barcelona, British, and Azerbaijan Grands Prix. His current teammate, Valtteri Bottas, holds a best result of 13th place. The team remains at the back of the pack, but the internal feeling remains that the Mexican driver operates at an impressively high level.

Stability for the Cadillac project

Dan Towriss, the CEO of Cadillac Formula 1 Team, said securing Perez provides the continuity and commitment needed to build on the foundation established in the team’s first year. He added that the team focuses on the next phase of the journey to push forward and make progress up the grid. Perez told reporters that extending his commitment feels like a natural continuation. "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," he said. He thanked Dan Towriss, Mark Reuss, and everyone at TWG Motorsports and General Motors.

The team’s decision to sign the multi-year deal clearly prioritizes stability over driver experimentation. This follows Perez’s ability to provide high-quality feedback that helps the team with development. He has forged a strong relationship with both team CEO Dan Towriss and General Motors chief Mark Reuss. The Mexican driver, who won six Grands Prix during his career with Sauber, McLaren, Force India, Racing Point, and Red Bull, prepares to make his 300th career start this weekend in Mexico City.

Perez experienced disappointment with multi-year contracts in the past. In 2019, he agreed to a three-year deal with the Racing Point team, which later became Aston Martin, but Lawrence Stroll replaced him at the end of the following season. During his fourth year at Red Bull, the team extended his contract by two years before they dropped him at the end of the season. He sat out the 2025 campaign before returning to F1 with Cadillac.

Uncertainty for the second seat

Speculation surrounds the driver lineup. Reports suggest either Perez or Valtteri Bottas could be replaced for the 2027 season. Since Cadillac only announced an extension for Perez, speculation exists regarding Bottas’s future with the team. Bottas signed what many believed was a multi-year deal, but his disappointing campaign led the team to reconsider all options. His performance remains poor.

While the team has invested in preparing American test driver Colton Herta for an F1 debut, the seat remains open, and rumors suggest Yuki Tsunoda could get a chance with Haas for 2027. Esteban Ocon is not in the running for a seat despite his recent departure from Haas. Cadillac has not confirmed the identity of Perez’s teammate for next year.

The team remains in a build-up phase with uneven production quality. This makes the decision to keep Perez even more significant for the stability of the garage. The team struggles to score points, but securing a proven driver helps the project move forward.