On Friday, Team Principal Otmar Szafnauer hinted that a deal was imminent and just a few hours later, Racing Point announced a fresh three-year deal for Perez, who will line-up alongside Lance Stroll in 2020.

He also played a key role in saving the core of the team, when he put them into administration last year, with the team - previously known as Force India - emerging with their staff and infrastructure under new ownership.

The 29-year-old Mexican is part of the Silverstone-based team’s furniture, having joined the squad back in 2014. Perez, better known as Checo, has consistently delivered at a high level, scoring at least one podium in four of his first five seasons with the team.

It’s been quite the weekend for 2020 driver announcements, with Racing Point the latest to join the party with news that Sergio Perez has signed a long-term deal to race for the outfit until the end of 2022.

Sergio believes in the long-term vision of this project and getting his commitment until the end of 2022 gives us valuable consistency going forward

“I’ve been working together with this group of people for a long time now and they have become my second family," said Perez. "Together we have enjoyed a tremendous amount of success and we share the same passion for racing.

“I have been impressed with the direction the team has taken over the last 12 months and that gives me confidence for the future. I believe the best times are still to come and I look forward to celebrating plenty of podiums in the years ahead.”

Szafnauer added: “We know Sergio very well and it’s great to confirm him on a long-term deal. Over the last six years we have seen him become a very complete driver with excellent qualifying speed and exceptional race craft.

“Sergio believes in the long-term vision of this project and getting his commitment until the end of 2022 gives us valuable consistency going forward.

"As the team continues to grow and develop it’s important to have a driver with Sergio’s level of experience, especially with new regulations on the horizon. The whole team is thrilled to continue working with Sergio and I believe we can enjoy great success together in the coming years.”

Perez is currently 16th in the drivers’ standings on 13 points, with sixth in Azerbaijan his best result of the campaign so far.

His deal means the only remaining unconfirmed seats on the 2020 grid are at Red Bull, Haas, Toro Rosso, Alfa Romeo and Williams.