Cadillac Formula 1 Team has made an important move before closing out its first season. The team has signed Sergio Perez to a contract extension.
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According to a Wednesday announcement, the veteran F1 driver will stick around through at least 2029 while signing a multi-year deal. He will continue to help Cadillac F1 Team make progress in the global racing series.
Perez, who signed the deal before his home race in Mexico City, joined Cadillac F1 Team for this season as the team became the newest competitor on the grid. He became teammates with fellow veteran Valtteri Bottas.
The 2026 season has been a learning experience for the new two-car team. Perez, in particular, has posted an average finish of 17.2 while failing to finish five events due to mechanical issues. Though the team has begun to perform more consistently while gaining experience.
Cadillac Formula 1® Team since day one. Staying into the future. pic.twitter.com/u7V1B9qfAs
— Cadillac Formula 1 Team (@Cadillac_F1) October 28, 2026
"Joining Cadillac Formula 1 Team from day one was a project I truly believed in, and extending my commitment feels like a natural continuation of this chapter," Perez said in a statement.
"Building a Formula 1 team from the ground up takes time, relentless work and patience, but the progress we are making together is incredibly rewarding. There is still a lot of work ahead of us and I am fully committed for the next three years.
"I want to thank Dan (Towriss), Mark (Reuss), and everyone at TWG Motorsports and General Motors for the opportunity to build on what we have started together.
"To every member of this special team, at the track, in the US, the UK, and our fans, thank you for your support and trust. I won't let you down. Let's keep pushing!"
Prior to joining Cadillac F1 Team, Perez drove for multiple teams while inching closer to his 300th start. He suited up for Sauber, McLaren, Force India, Racing Point, and Red Bull. He won six Grands Prix — five with Red Bull and one with Racing Point.
