Perez was out of contract at the end of the season in what was arguably the highest-profile seat available in this year’s F1 silly season.

That has now been resolved with a two-year extension set to keep the Mexican in the drive until at least the end of 2026.

“I am really happy to commit my future to this great team, it is a challenge like no other racing for Oracle Red Bull Racing, both on track and off track,” Perez said.

“I am delighted to be staying here to continue our journey together and contribute to this Team’s great history for two more years.

“Being part of the Team is an immense challenge, and one I love. We have a great challenge this year and I have full trust in the whole Team that the future is bright here and I am excited to be part of it.

“I want to thank everyone for all the trust they are putting in me, it is a lot and I want to pay it back with excellent results on track, and off track.

“I think we have a lot of work to do, we have a lot more Championships to win together.”

Perez’s renewal closes another door for Carlos Sainz, who is a free agent after Ferrari signed Lewis Hamilton.

The Spaniard was linked with the Red Bull Racing drive following comments Christian Horner made following the Australian Grand Prix – a race won by Sainz.

It also dashes any hopes Daniel Ricciardo may have had of a return to the team with which he won seven grands prix – the notion which lured him back onto the F1 grid midway through last season.

“Now is an important time to confirm our line-up for 2025 and we are very pleased to continue working together with Checo,” explained Horner.

“Continuity and stability are important for the team and both Checo and Max are a successful and robust partnership, securing our first ever one-two finish for the Team in the Championship last year.

“Checo has had a strong start to 2024 with second places in Bahrain, Saudi Arabia and Japan and then his podium in China.

“The past few races have been tough, there is convergence on the grid, but we are confident in Checo and look forward to his return to proven form and performance, that we so often see.

“Last year was a unicorn season and we will need to work hard to retain our titles, but we are assured in our line up and with the Team as a whole, which is imperative in what is shaping up to be a close fought Championship this year.”

Since joining Red Bull Racing for the 2021 season, Perez has recorded five race wins, 29 podium finishes, and three pole positions.

It’s a record that marks him out as the most successful Mexican driver in F1 history.