The transfer follows a poor season for the Mexican, who only finished on the podium four times and failed to win a race, while teammate Max Verstappen won his fourth world championship.
After being effectively fired, Perez stated: “I am immensely appreciative of the last four years with Red Bull Racing and the chance to compete with such a fantastic team.
“Driving for Red Bull has been an unforgettable experience and I’ll always cherish the successes we achieved together.”
In a promotion from the sibling Racing Bulls squad, 22-year-old Liam Lawson of New Zealand is anticipated to take Perez’s position at 34.
Lawson, who participated in five races in 2023 and six at the end of 2024.
