As reported on sportspodcastingnetwork.com on Monday, Sergio Perez and the Red Bull Formula One Team have come to terms on a 1 year deal that will see the Mexican driver become Max Verstappen’s teammate in the second best car on the grid.

The German website Speedweek, property of Red Bull, reported on Thursday that Sergio Perez and Red Bull have agreed on a deal and an announcement is set to be made on Friday.

The Dutch newspaper Der Telegraph, who has been close to Verstappen’s family for a long time, is also reporting that Perez will be unveiled by Red Bull on Friday.

It does mean that even after a resurgence of positive results towards the back end of the season for Alex Albon, he loses his spot on the grid for the 2021 Formula 1 season. He finished just off the podium in Abu Dhabi with a solid fourth place, preceded by a sixth place at the Sakhir Grand Prix. It is expected that Albon will stay as Red Bull’s test, simulator and reserve driver.

Back to Sergio Perez, it is a one year agreement, with options on Red Bulls’ side for the 2022 season. Financial terms have not been disclosed, but it is expected that Telcel, Sergio Perez’s long time sponsor and Mexico’s third biggest communications conglomerate, will sponsor the Red Bull team starting in 2021. Sergio Perez will become Max Verstappen’s fourth teammate at Red Bull Racing team, after Daniel Riccardo, Pierre Gasly and Alex Albon.

Here is the link to our original report announcing the deal between Perez, Telcel and Red Bull.