Sergio Perez will remain at Red Bull for 2022, with the possibility of this going into 2023, according to reports.
Whilst there has been no official confirmation as of yet, Spanish newspaper Marca claims that talks to renew Perez's contract are well under way, and that the only thing that is uncertain is whether the contract will be just for one year - which is reportedly the wish of Red Bull - or for two years, supposedly the preference of Perez.
It is unclear when a deal might be announced, but Perez has previously spoken about his desire to start contract discussions as soon as possible.
"I see it as a natural thing," the Mexican told RacingNews365.com and other select media. "Once you're comfortable in a team, working with them and the team working with you, it's something that naturally should happen very smoothly."
Perez has fitted in well with the Milton Keynes-based outfit since joining them for the 2021 season, and has developed a good working relationship with teammate Max Verstappen.
With Verstappen's previous teammates Pierre Gasly and Alexander Albon struggling to match his level of performance, Perez has been able to play the team role which has enabled Red Bull to lead the Constuctors' Championship with an impressive 44-point advantage over nearest rivals Mercedes.
Perez also secured his first win for the team at the Azerbaijan Grand Prix, meaning they were able to pull back some points following Verstappen's sudden exit from the race due to a tyre failure.
The Mexican has additionally showed his skill at adapting to different strategies, and is particularly strong when it comes to managing the tyres over a long stint.
Team boss Christian Horner recently spoke about how pleased he has been with Perez since the 31-year-old joined the team.
"Really since Daniel [Ricciardo] left, obviously we had drivers come in very young, and Max was running solo," Horner told the Beyond The Grid podcast. "And it's only really since Checo [Perez] has now arrived [that has changed].
"He's a great team player. He was out at the end of last year, he would have been unlikely to find a seat, certainly not a competitive seat, so I think he's enormously grateful for this opportunity, grabbing it with both hands.
"He's a really rounded guy, a lot of experience, and he's playing the team role fantastically well."
RacingNews365.com have asked Red Bull for comment.