While Pérez signed a new contract with the team ahead of the Canadian Grand Prix, reporting indicates that the contract allows for Pérez to be moved into an ambassadorial role.

Even in the throes of a miserable run of form to end what he has labeled a “terrible” Formula One season with Red Bull, Sergio Pérez’s outward confidence about his future has never been shaken. On Thursday,

Perez signed a multi-year contract extension earlier this season, but his new terms did little to boost his deteriorating performances, and after a miserable second half of the campaign, ESPN report that Red Bull have made the decision to move on from the six-time Grand Prix winner.

Veteran driver Sergio Perez is leaving Red Bull Racing after this season, ESPN reported Monday. Perez, 34, sits in eighth place in the Formula 1 drivers standings with one race remaining.

Formula 1 veteran Sergio Perez will reportedly be dropped after the final race of the season this weekend due to his disastrous year with the Red Bull Racing team.

Sergio Perez is being urged to "come to his own conclusions" by Christian Horner ahead of the season finale in Abu