Sergio Perez has announced his retirement from Formula 1 after 2029

Thirty-six-year-old Sergio Perez announced on Thursday that his next contract with Cadillac will be the last of his Formula 1 career. The Mexican driver said the decision was motivated primarily by his desire to spend more time with his children, who are about to go through important stages in their lives.

“The next three years will be my final contract,” Perez said at a press conference held ahead of the Mexico City Grand Prix. The Mexican returned to Formula 1 this season after parting ways with Red Bull at the end of 2024, and earlier this week extended his agreement with Cadillac through 2029.

Perez considers the American manufacturer’s project an ideal challenge for the final stage of his career. Cadillac has failed to score points in the season’s first 18 rounds, but the driver is confident in the team’s potential.

The Mexico City Grand Prix will have special significance for Perez: on Sunday, in front of his home supporters, he will contest his 300th Formula 1 race. A debutant in 2011, the Mexican has six wins, 39 podium finishes and three pole positions. He was the 2023 world runner-up, behind his Red Bull teammate, Max Verstappen.