LONDON - Veteran driver Sergio Perez is leaving Red Bull after this season, ESPN reported on Dec 2.
While his teammate Max Verstappen has won his fourth consecutive Formula One world championship, the 34-year-old Mexican sits in eighth place in the drivers' standings with one race remaining.
The 2024 F1 calendar concludes on Dec 8 with the Abu Dhabi Grand Prix.
Perez has no wins this season and all four of his podium finishes came in the season's first five events.
After he failed to finish the Qatar Grand Prix on Dec 1, team boss Christian Horner discussed Perez's future at Red Bull.
"I'm going to let Checo come to his own conclusions; nobody's forcing him one way or another," he said.
"It's not a nice situation for him to obviously be in."
Perez signed a contract extension until 2026 earlier in 2024 and cannot be fired outright, according to ESPN.
He can be moved into an ambassadorial role, however, if he opts to remain at Red Bull.
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