Red Bull Racing driver Sergio Perez's contract with the team will expire at the end of the current season, and no future prospects are currently on the table.

However, the team could renew the Mexican due to one crucial thing he brings.

Former F1 driver and now Sky Sports commentator Ralf Schumacher suggested that the financial boost that Perez brings to the team might be enough for the team to extend his tenure.

"You shouldn't forget, as long as Max Verstappen stays, that's what I've heard at least once, the budget limits are relatively tight at Red Bull, and Perez brings money," the 48-year-old stated.

Perez's huge fanbase in his native Mexico is a big draw for merchandise sales, and he also has sponsorship deals with brands such as Disney, Telcel, Mobil, Claro, Nescafé, and KitKat, among others. He has a salary of $14 million for the 2024 season, the seventh highest in the grid.

Sergio Perez's costly crash in the Monaco Grand Prix

Perez crashed out of the 2024 Monaco Grand Prix barely as the first lap started, initially colliding with Haas' Kevin Magnussen before spinning around and hitting Magnussen's teammate, Nico Hulkenberg.

The crash caused significant damage to Perez's Red Bull RB20 car, with its front part nearly unrecognizable.

Reports indicate that the crash would cost around £2 million ($2.5 million) in repairs, which would utilize the cost cap and could potentially affect future upgrades for the car later in the season.