F1 Rumor: Telmex may leave Red Bull, which could jeopardize Perez (Update)
(GMM) One reason to keep Sergio Perez on board at Red Bull has just slipped away.
Although the struggling Mexican’s billionaire backer Carlos Slim publicly supported Perez at the weekend, it now emerges that the biggest Slim-affiliated sponsor – Telmex – will no longer be on the Red Bull car in 2025.
Just days ago, Red Bull announced the “expansion” of its partnership with American telcom giant AT&T – a direct competitor of Telmex’s, particularly in Mexico.
Slim admits Red Bull’s Telmex deal could be axed.
“We are in talks with the team,” he said. “We are still talking to them, but the intention will always be to continue to support Checo. We will continue to support him without a doubt.
“Checo’s contract is separate from our sponsorship contribution to the team. It has always been like that since we have been with this team. But if we no longer have the opportunity to work with the team, we will definitely want to continue with Checo.
“The intention is to continue that collaboration, regardless of which team Checo is with.”
It is sounding more and more likely that Red Bull and Perez, 34, will soon split.
“We are now only third in the constructors’ championship,” said team boss Christian Horner. “As a team, we have done everything we can to support Checo and we will do the same in Brazil.
“But there comes a point when we can’t do any more. That is the point at which difficult decisions have to be made.”
October 27, 2024
Rumor has it that Telmex may end its sponsorship of the Red Bull Formula 1 team, which could result in Sergio Perez losing his Red Bull F1 ride.
Red Bull has a multi-year extended agreement with AT&T, a competitor to Telmex, and this may be the reason for Carlos Slim’s Telmex to stop sponsoring the team. However, the end of the sponsorship has yet to be confirmed.
In the mid-1990s, AT&T and other companies began operating in Mexico, competing with Telmex for the first time. Both AT&T and Telmex offer a variety of services, including landline and mobile telephony, broadband internet, and pay television. AT&T is the largest telecommunications company in the United States, but it accounts for a smaller share of the Mexican mobile market than Telmex.
“We are in talks with the team, it is not final yet,” Mexican Billionaire Carlos Slim told ESPN Mexico.
According to Slim, the company is very loyal to Perez. “If there was no more possibility to continue with the team, we would definitely continue with Checo. The intention is to continue with Checo, where he is, we will be with him.”
“The one we always want to continue with is Checo. As far as we can always do that with him, no doubt. The issue of the contract (with the driver) is separate from the issue of team sponsorship by us. That has always been the case since he signed with the team,” Slim explained.
But Perez brings a rumored $30 million of sponsorship to the Red Bull team (INTERprotección, Infinium, Claro, Telcel, and Telmex), so his poor driving performance that costs the Red Bull team the Constructors title money is sometimes overlooked. However, the loss of Telmex would possibly be the straw that broke the Camel’s Back for Perez at Red Bull.