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Red Bull must decide whether to honour Sergio Perez's contract or to replace him for 2025, either with RB racer Liam Lawson or with an external signing like Franco Colapinto

Despite this, Tsolov was retained by ART for the 2024 season, where he currently sits 11th in the standings, with one feature and two sprint race wins under his belt. As part of their driver signing announcent, Red Bull confirmed that the Bulgarian-born driver would once again be competing in F3 next season.

Red Bull’s surprise link to signing Franco Colapinto is the latest twist in the Formula 1 driver market – but would it work?

Williams are likely to spend the rest of 2024 negotiating with rival teams about their interest Franco Colapinto. Red Bull and Alpine have already enquired about the 21-year-old’s availability, with talks advanced taking place in the background.