Explained: Three reasons why Cadillac F1 signed Bottas and Perez<\/a><\/p>\nBut according to a report from Record MX, Perez has put pen to paper on a bumper deal that will see him feature amongst the highest-paid drivers on the grid.<\/p>\n
\u201cThe arrival of Sergio \u2018Checo\u2019 P\u00e9rez to Cadillac Formula 1 has not been a cheap operation, but everything indicates that it will become a highly profitable business for the American team thanks to the enormous economic and commercial impact that the Mexican driver represents,\u201d read the report from Mexico.<\/p>\n
PlanetF1.com understands that Perez has signed a multi-year deal with Cadillac, with the reporting from Record MX suggesting the same. Added to that, the publication suggests he has a basic salary of close to $10 million, Perez\u2019s deal allegedly on par with his previous Red Bull contract.<\/p>\n
The driver will also reportedly earn bonuses through his results, such as championship positions, podiums and race wins, while his income will also be boosted by a percentage of the sales from official merchandise. That\u2019s a boon for Perez, who was reportedly responsible for a good 60 per cent or more of Red Bull\u2019s online merchandise sales.<\/p>\n
However, PlanetF1.com understands that while the report is largely accurate, the claim that he will \u201cretain\u201d main sponsors including Telcel, Kit Kat, Maja and Patr\u00f3n has been made prematurely, with discussions with the sponsors not yet having begun \u2013 Cadillac having been keen to sign Perez based on what he can offer as a driver, primarily, more so than the impressive sponsor roster he has boasted in the past.<\/p>\n
Returning to the grid for what will be his 16th season in Formula 1, the former Sauber and Force India driver is facing a different challenge to his previous seasons as while he\u2019s been with teams that are building themselves up, he\u2019s never raced for a start-up.<\/p>\n
\u201cJoining the Cadillac Formula 1 Team is an incredibly exciting new chapter in my career,\u201d Perez said. \u201cFrom our first conversations, I could sense the passion and determination behind this project.<\/p>\n
\u201cIt\u2019s an honour to be part of a building a team that can develop together so that, in time, we will fight at the very front.<\/p>\n
\u201cCadillac is a legendary name in American motorsport, and to help bring such a fantastic company to Formula 1 is a huge responsibility, one I\u2019m confident of taking on.<\/p>\n
\u201cI\u2019m proud to be part of such an ambitious and meaningful project from the very beginning.<\/p>\n
\u201cI\u2019m really pleased to be part of such a dynamic line-up, and together I believe we can help shape this team into a real contender, the team of the Americas. We\u2019re counting on support from across the continent \u2013 and we want to make everyone proud.\u201d<\/p>\n
Read next: Max Verstappen offers Sergio Perez crucial advice as Cadillac F1 comeback sealed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Between a basic salary rumoured to be $10m per season, matching his Red Bull deal, and incentives for…\n","protected":false},"author":2,"featured_media":106149,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[573],"tags":[64,63,3550,817,813,816,818,44,17165,2072,85],"class_list":{"0":"post-106148","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-formula-1","8":"tag-au","9":"tag-australia","10":"tag-cadillac","11":"tag-f1","12":"tag-formula-1","13":"tag-formula1","14":"tag-home-page","15":"tag-news","16":"tag-popular","17":"tag-sergio-perez","18":"tag-sports"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/106148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=106148"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/106148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/106149"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=106148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=106148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=106148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}