After weeks of speculation, Red Bull Racing has confirmed the rumors. Sergio Perez will race for the team in 2021. This leaves Alex Albon off the grid next year.

That said, Albon will still stay with the team in the upcoming season. Red Bull Racing kept the Thai-British driver as a test and reserve driver.

As for Perez, he has a one-year contract with the team. According to Red Bull Racing, his recent run of form and victory at the Sakhir Grand Prix made him the favored choice to join the team. They also pointed out Perez's consistency over the years.

"Having taken our time to evaluate all the relevant data and performances we have decided that Sergio is the right driver to partner Max for 2021," said Christian Horner, team principal of Red Bull Racing.

"I am incredibly grateful to Red Bull for giving me the opportunity to race for Red Bull Racing in 2021. The chance to race for a championship-contending team is something I have been hoping for since I joined Formula One and it will be a proud moment to step onto the grid in Red Bull colors alongside Max", adds Perez.

Despite a dominant performance from Mercedes-AMG, Red Bull Racing proved they have a winning package. Should they build on that momentum, Sergio Perez might not have to wait too long for that second win.

With that, what a way to seal the 2020 Formula 1 season and hype up 2021. Aside from Perez joining Red Bull, we also have Alpha Tauri’s Yuki Tsunoda to look forward to next year. And let's not forget the return of a Schumacher on the grid with Mick racing for HAAS.

We're also excited about McLaren’s pairing of Daniel Ricciardo and Lando Norris and have high expectations for Sebastian Vettel at Aston Martin. It will also be interesting to see how Carlos Sainz Jr. fares with Scuderia Ferrari.