Colapinto has rocketed onto the scene following his mid-season promotion in pace of Logan Sargeant at Williams.

In his five races thus far, the Argentinian has delivered two top-10 results, amassing five points and helping Williams remain ahead of Alpine in the constructors’ championship.

A junior with the Grove squad, he faces an uncertain future given it has both Alex Albon and Carlos Sainz under contract for next season.

However, it’s now been claimed that he will join Red Bull Racing for 2025 in place of Perez.

“More than a month ago, ‘A Todo Motor’ gave you the absolute scoop that Colapinto was going to be in Formula 1 until the end of the year,” claimed Argentinian journalist Ruben Daray.

“Well, today is Friday, [and] I’m letting you know that, at this moment, Colapinto is already Red Bull’s number two driver for 2025.

“[An] exclusive scoop of ‘A Todo Motor’! I am really happy that an Argentinean, Franco Colapinto, is in a team as important as Red Bull”.

Sources have denied such a deal has been done when asked by Speedcafe, though admitted negotiations are underway.

“The best I can really tell you is we’re actively working with teams that are interested to try and find the right arrangement that helps Franco, that protects Franco as well and protects all parties,” confirmed Williams team boss James Vowles.

“It’s never straightforward between Formula 1 teams because you’re fighting on track and you’re trying to find a solution for a career of a young man.

“He needs to do more on track to keep earning his place as a result of things, but he’s shining, and that’s why there’s interest from teams.

“Our responsibility in that is I have a responsibility both towards him and Williams.

“Hopefully we’ll have some great news to be able to talk to everyone about, but today that isn’t available.”

Red Bull Racing boss Christian Horner met with Vowles to discuss the 21-year-old in Sao Paulo – though the Williams boss refused to confirm as much when asked in the FIA press conference.

Red Bull’s interest is clear.

Perez has become a liability such that Red Bull Racing will not win the constructors’ championship this season.

That will cost the team in terms of prize money payments through 2025, which are not insignificant, while staff will miss out on bonuses.

It is expected the Mexican will be ousted from the seat for 2025 – some have suggested that could even happen sooner, though barring something extraordinary it’s understood that is not a serious consideration.

Colapinto is highly though of after showing well against Alex Albon.

The Thai-licensed driver is a known quantity within Red Bull and has been put under pressure in quick time by his new team-mate.

It seems that has moved Colapinto into pole position over Liam Lawson, the internal front-runner to replace Perez.

Should Red Bull secure the Williams super-sub he would partner Max Verstappen at Red Bull Racing next season, with Lawson remaining at RB alongside Yuki Tsunoda – it would make no sense to invest heavily on a driver only to place him at the junior team.

While Red Bull has Isack Hadjar waiting in the wings.

If necessary, he could be promoted to RB for 2025, though there are reservations surrounding the Frenchman who is currently competing in F2.

What the squad does in 2026, when Tsunoda is expected to depart Red Bull as Honda switches to Aston Martin, then becomes an issue but one it has time to resolve. Arvid Lindblad may by then be a viable option.

But what of the ‘other’ team? Vowles insists there are “teams” vying for Colapinto, a point supported by sources within the paddock.

Officially, only Sauber has an opening outside of the Red Bull family, though it’s been claimed to Speedcafe that the Swiss-based operation is not among those pursuing his signature.

The veracity of that is questionable, however, as Colapinto remains one of the more attractive options available on the market.

Other names linked to the Hinwil operation, the future Audi factory team, include Valtteri Bottas, Kevin Magnussen, and F2 driver (and McLaren junior) Gabriel Bortoleto.

Beyond Sauber and the Red Bull teams, a process of elimination reveals a very shortlist of potential alternatives, given that Mercedes, McLaren, and Ferrari all have settled pairings. Alpine, Aston Martin, and Haas all have lineups confirmed, too.

It’s possible a change could be made, though negotiating a way out of a Williams deal is not likely to come cheaply.

From that, we can, therefore, likely scratch Haas and Alpine – though with South American funding behind Colapinto, and Groupe Renault’s efforts to reduce its F1 exposure, there is a degree of logic there. Aston Martin meanwhile seems unlikely to drop either Fernando Alonso nor Lance Stroll.

It’s possible that the claim of a second team is merely a negotiating tactic on Williams’ part to drive up the asking price.

With no seat available internally (though that’s not to say one couldn’t be made), and Colapinto’s desire to race, it is arguably a buyer’s market.

Further, there is some logic in Williams selling.

Dorilton Capital, the team’s owner, has recently injected AUD $195 million, taking its total exposure with the operation to AUD $826.7 million.

Last year, the squad was valued at AUD $1.09 billion, leaving little room for further investment before it overcapitalises.

Raising capital through Colapinto, from a financial standpoint, could therefore be viewed as logical, and it stands to reason that the team would also chase top dollar for its young protégé.

Where Colapinto ends up remains uncertain, with sources suggesting the situation is not likely to play out quickly.