Baku, October 19, AZERTAC

Racing Point Force India has announced that Sergio Perez has extended his contract to race for the Silverstone-based outfit for a sixth successive Formula 1 season in 2019, according to autosport.com.

Perez and his management team were heavily involved in the legal moves that led to the original team going into administration over the Hungarian Grand Prix weekend and the subsequent purchase of its assets by the Racing Point consortium led by Lawrence Stroll.

As one of the main creditors, Perez was owed more than $4million by the original team, which has now been paid.

As has been the case in previous seasons, the team has waited to make an announcement until it had fully signed off deals with Perez's Mexican sponsors.

Perez has been with Force India since 2014 after he was dropped by McLaren at the end of the previous season, and has logged five third-place finishes over five years with the outfit.

He finished seventh in the drivers' standings in 2016 and '17, and currently holds the same position this season.

"I am very happy to finally announce my future and I'm really motivated for 2019," said Perez.

"Force India has been my home since 2014 and has allowed me to grow as a driver and show my skills on track.

"We have achieved so much success in the last five seasons but I think the best is yet to come.

"The new investment the team is enjoying fills me with confidence and I am really excited about the future."

Team principal Otmar Szafnauer added: "Over the last five years, Sergio has confirmed his position as one of the most talented and consistent drivers on the F1 grid.

"He gives us valuable stability going forward and is a huge asset to this team."

While Perez is Force India's first confirmed driver for 2019, there is still no official news about Lance Stroll's anticipated move from Williams.