Ricciardo returned to the Formula 1 grid midway through 2023 in place of Nyck de Vries.
His motivation for the return was to prove he was good enough to make a return to Red Bull Racing, for whom he won seven of his eight grands prix.
At the end of last season, that looked like a realistic possibility as he performed on par with team-mate Yuki Tsunoda – arguably out-performing his team-mate.
However, his form this year has been patchy and a slow start has seemingly cruelled his chances of rejoining the Milton Keynes operation.
A Red Bull Racing contracted driver, Ricciardo is loaned out to RB on what is, for now, a one-year deal – as he was last year.
His agreement of that drive was to reassert himself as a top tier driver after a damaging two-year stint with McLaren.
The stated end goal for his return has now been removed as a possibility.
Speaking with Speedcafe earlier this year, the 34-year-old admitted he would be satisfied remaining with RB.
“As I feel today, yes,” he admitted when asked if he’d be happy remaining in Red Bull’s second team for 2025.
“I’m enjoying the driving now; it’s not so much result-driven.
“Obviously, I don’t want to just be here to be here; I want to earn that seat and the team is hopefully further up.
“But is it more fun fighting at the front? Is it more fun fighting for podiums and wins? Absolutely.
“And the truth is, if I draw a line under it and I speak about myself in the third person: Why did Daniel Ricciardo return after a few months off last year? Because I believe I can stand on the podium again. I can win races again.”
Perez’s two-year extension deals a hefty blow to those ambitions.
Since the team first entered Formula 1 in the mid-1980s, RB (under Minardi, Toro Rosso, or AlphaTauri banner) has won only twice: the Italian Grand Prix, in 2008 (Sebastian Vettel) and 2020 (Pierre Gasly).
While not impossible, another victory in the near future is a remote possibility at best.
With the Red Bull Racing drive now off the table, it draws into question Ricciardo’s desire to remain on the grid knowing that avenue is seemingly closed.
Without a race contract for 2025, should he wish to continue racing, remaining with RB looks his only option.
However, Ricciardo is not the team’s only choice.
Alongside the Perth-native, it has Tsunoda and Liam Lawson.
Tsunoda has performed well, though the decision to retain Perez effectively marks his exit from Red Bull.
Whether that comes next season or for 2026 is now the biggest question.
The Japanese driver has strong links with power unit provider Honda, which will continue its supply of Red Bull Racing and RB util the end of next season.
Thereafter, as new regulations come into force, it will switch its factory supply to Aston Martin.
Tsunoda following the marque to the Silverstone operation is a good possibility. Whether that happens for 2025 is the next question.
Should it not, he looks the safer of the two RB drivers as Lawson waits in the wings.
The New Zealander performed well during his five-race cameo in place of the injured Ricciardo last year, but has been left out in the cold ever since.
RB boss Peter Bayer has spoken positively of him, but has also said he’s pleased with his current pair – comments he made as recently as the Monaco Grand Prix weekend.
A return to the F1 grid for Lawson would come at the expense of Tsunoda or Ricciardo.
Should that happen, the question would be whether his promotion is due to a decision from one of those two, or Red Bull management.
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