Cadillac have confirmed an F1 contract extension for Sergio Perez which will keep him with the US team until at least 2029.

The official announcement came on Wednesday afternoon, perfectly timed to coincide with Mexican Grand Prix week getting into full swing.

The 36-year-old Perez, a six time Grand Prix winner, was already contracted to F1 rookies Cadillac for the 2027 season, but his new deal provides a long-term commitment.

Neither Perez nor team-mate Valtteri Bottas have been able to score a point in the team's first season, but the team sees the extension as a vital part of building for a brighter future.

Cadillac hail 'Checo' influence

A Cadillac statement read: "Checo has brought invaluable experience, talent and leadership to the team during its historic inaugural season on the grid.

"His technical feedback and race craft have helped accelerate chassis development, refine trackside operations and establish the foundation for continued progress across the team’s operational hubs in Silverstone, Indianapolis and Charlotte.

The announcement comes as Perez prepares to celebrate his 300th Grand Prix start at his home race in Mexico City on Sunday.

Perez 'truly believed' in Cadillac project

“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,” said Perez in an official team 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 U.S., the U.K., and our fans, thank you for your support and trust. I won’t let you down. Let’s keep pushing!”

Team CEO Towriss added: “On the eve of a special weekend in Mexico City, we’re thrilled to announce that Checo will remain an integral part of Cadillac Formula 1 Team for years to come.

“Building a competitive team in F1 is a long-term journey, and securing Checo’s talent and leadership gives us the continuity and commitment we need to build on the strong foundation established in our first year.

"Together, we are focused on the next phase of our journey, pushing the team forward and making progress up the grid.”

Bottas speculation continues

While Perez is now locked in until at least 2029, there remains continued speculation about the future of Bottas - who as it stands is contracted for 2027.

Despite that, speculation persists that he could still be released before that, with team principal Marcin Budkowski admitting: "There are a number of drivers and managers who have contacted me.

"I’m not going to say who it is or who it isn’t, but pretty much all of them that are on the market have been in touch, as you’d expect."