Sergio Perez has no immediate plans after departing his Formula 1 seat at Red Bull Racing, according to his father, Antonio Perez Garibay.

The Mexican driver and Red Bull announced in separate statements that they had reached an agreement for Perez to vacate his race seat.

"Sergio Perez and Oracle Red Bull Racing have reached an agreement to part ways for 2025," Red Bull said in its statement, issued shortly after Perez's.

To journalists, team boss Christian Horner elaborated, explaining that Perez has decided to take a sabbatical from Formula 1 rather than remain in a driving role.

"He's decided that he's going to take some time off—essentially a sabbatical from Formula 1," Horner said.

Horner ruled out a move to the energy drink brand's second team, Racing Bulls, stating: "He will remain involved with the brand and the team but will be stepping back from driving duties. It's time for him to be with his young family and reflect on what he wants to do in the future."

According to Horner, Perez might explore opportunities beyond F1, such as sports car racing. "But I think first of all he has to take some time to see how much he misses driving a racing car," Horner added.

Perez's father confirmed that the departure marks a complete pause in the driver's F1 career. "There is no plan B, no plan C," Perez Garibay told Fox Sports Mexico. "Today, at this moment, the page in Formula 1 is closing for us.

"However, when he was fired from Racing Point, there was no plan B either. At that time, F1 was over for us too. Right now, he has nothing ahead of him. We have to accept that. Let him enjoy his family."

Meanwhile, Red Bull is preparing to announce Perez's replacement, with a spokesperson stating that the decision will be revealed "in due course."

Horner noted that the team is carefully evaluating its options for 2025: "2025 will probably be the most competitive season in years, so what's most important to us is having two drivers who perform as closely as possible.

"It will basically come down to a choice between Yuki (Tsunoda) and Liam (Lawson), both of whom have good track records. We have all the information, we're looking at all of it, we're talking to our engineering team, and we'll make a decision in the next few days."

Multiple international media outlets report that 22-year-old Liam Lawson from New Zealand is the favourite for the seat.