Performance clause in Perez's contract: does 'Checo' meet requirements?

Sergio Perez is under pressure at Red Bull Racing. With two Grands Prix to go, the Mexican seems likely to secure second place in the world championship, but that is not the only benchmark Red Bull will hold him to.

Perez still has a contract with Red Bull until 2024, and Christian Horner has repeatedly stated that the team has the "intention" to put the Mexican in the car next year as well. The fact that Horner and Helmut Marko did not confirm that Perez will be in the car next year for certain indicates a performance clause in his contract.

Most contracts in F1 contain a performance clause. That can work both ways. For example, Max Verstappen had a clause in his contract that if his position in the World Championship was low, he could leave Red Bull Racing. This was suggested at the time the team made the switch to Honda engines. Conversely, if a driver is not performing, he should be able to be ejected. For this, see Nyck de Vries as the most recent example.

Performance clause for Perez

According to experienced F1 journalist Joe Saward, there are two options for adding a performance clause. He states that it would be a percentage of the team's total points and a percentage over his teammate's points. In both cases, Perez scores very low.

In 2023, Red Bull Racing have scored 782 points. Perez himself scored 258 points, accounting for 33%. In comparison, only Oscar Piastri (31%), Lance Stroll (24%), Logan Sargeant (4%), Kevin Magnussen (25%) and Daniel Ricciardo (29%) achieve a lower number than Perez. Of these, two are rookies, and one driver has only driven a few races this season.

Among Red Bull's rivals, the distribution is much fairer. At Mercedes, it is 59% vs. 41%. At Ferrari it is 53% vs 47%. Here, the drivers are much closer together, contributing more to the team's total than Perez. Perez also scores lower on the other performance matrix. With 258 points, Perez scores 49% of the 524 points Verstappen has already accumulated.

Is Perez's seat in danger?

It is further statistical confirmation that Perez is also already scoring less than his teammate. In the internal duel, looking at qualifying and races, Perez scores significantly worse than Verstappen. The main problem is that Perez took a step backwards in 2023, whereas 2022 was a step forward compared to 2021.

Yet, in the main standings, Perez is still where he should finish. Perez is second in the world championship among drivers and, with two Grands Prix to go, looks set to secure the first 1-2 in Red Bull Racing's history. Lewis Hamilton still has a chance and must hope that the United States Grand Prix result is adjusted. If so, Perez will lose another 11 points.

Second place in the championship could be Perez's salvation, although who could replace him? Daniel Ricciardo is not yet convincing every weekend, either. Alexander Albon is stuck with Williams and Fernando Alonso would like the seat, but does Red Bull want to bring him in? There is something to be said about everyone. So, does that really solve the problem?