Long-standing Red Bull sponsor and telecommunications giant Telmax, the primary backer of Sergio Pérez, is considering ending its association in F1 with the Milton Keynes-based outfit.
The development follows reports of a future significant investment by AT&T, a global telecommunications giant, into Red Bull Racing, which would create a direct conflict with Telmex due to both companies operating in the same industry.
Escuderia Telmex chairman Carlos Slim Domit, the 57-year-old son of Mexican billionaire Carlos Slim Helu, alluded last weekend at the Mexico City Grand Prix to the strong possibility of terminating his deal with Red Bull.
However, the company's potential withdrawal would not affect its personal support for Sergio Perez.
The telecom group's involvement with Red Bull since 2021 – when Perez moved to the team – has been represented by its subsidiaries, Infinitum, Telcel and Claro, whose brandings are displayed on the Red Bull cars.
Speaking to ESPN , Slim Domit clarified the situation, explaining that negotiations with Red Bull are ongoing.
“We are talking with the team, we are still in talks, it is not yet defined, but the intention will always be to continue with Checo,” Slim commented.
“As far as we can, we will always be with him, without a doubt.”
America Movil Chairman Carlos Slim Domit on the grid last weekend in Mexico with his wife Maria Elena Torruco.
This would not be the first time Telmex has separated its driver support from team sponsorship. Slim Domit recalled to a similar scenario in 2013, when Pérez raced for McLaren, a team then primarily sponsored by Vodafone.
In that situation, Telmex maintained its backing of Pérez through smaller placements on his helmet and race suit, a model they are prepared to replicate.
“The issue of Checo's contract is separate from the issue of our sponsorship, it has always been like this since I signed with the team, but if there were no longer the opportunity to continue with the team we would undoubtedly continue with Checo,” Slim Domit added.
“The intention is to continue with Checo, wherever he is we will be with him.”
In addition to its commitment to Pérez, Telmex is also reportedly exploring a partnership with promising Williams rookie Franco Colapinto.
Slim Domit stressed that any support for Colapinto would not detract from their focus on Pérez or Mexican motorsport talent.
“We have been with many drivers many times, we were with Bruno Senna, we were with Pietro Fittipaldi and we were with the two Mexican drivers with Checo and with Esteban (Gutiérrez).
“If there was an opportunity to talk about something with Franco, it would not be anything related to Checo,” I clarified.
Slim Domit concluded by reaffirming the company's dedication to Latin American drivers and the development of Mexican talent, with Pérez remaining at the forefront of that mission.
“We always seek to support Latin American drivers, Franco is doing very well, but without a doubt our important project has always been to continue building the development of Mexican drivers and Checo, without a doubt, is the one who represents us all,” I have added.
The upcoming decision, expected to be finalized within the next month, will determine if Telmex's longstanding presence on Red Bull cars continues.
Regardless of the outcome, Telmex's unwavering support of Sergio Pérez underscores the deep relationship between the driver and his home country's leading motorsport backer.
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