Red Bull have reportedly offered a contract to a current F1 driver to succeed Sergio Perez at the team from the 2025 season, according to journalist Peter Windsor.
The news comes amid Mercedes' search to replace Lewis Hamilton, who will leave the Silver Arrows to join Ferrari from 2025.
George Russell will step up to become the Mercedes team leader, although the identity of his team-mate is yet unclear.
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Speaking to the media on Friday, Mercedes team principal Toto Wolff said: "I'm looking forward to taking on this challenge [of replacing Hamilton] with my colleagues.
"Maybe it's a chance to do something bold.
"If you'd told me two days ago that Lewis would go to Ferrari, I wouldn't have believed you. Things can change quickly. Contracts can change. Who knows what might happen in the driver market."
Hamilton will replace Carlos Sainz at Ferrari, with the Spaniard's contract expiring at the end of the 2024 season.
Sainz is currently the leading favourite to essentially swap seats with Hamilton at Mercedes, with Fernando Alonso and Esteban Ocon also potential contenders.
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Another driver that has been linked with the seat is Williams' Alex Albon, who has impressed during two seasons with the Grove-based outfit.
Albon previously spent one-and-a-half seasons racing alongside Max Verstappen at Red Bull before spending a year as reserve driver.
He was then released from his contract to move back into a full-time driver role with Williams.
But according to experienced journalist and former F1 team manager Windsor, that move may be off the table.
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He claims that Red Bull have submitted a contract to bring Albon back from the team in Perez's place.
Speaking on his YouTube channel, Windsor said: "As I understand it, Albon has been offered a three-year contract by Red Bull to start in 2025.
"So I think you are going to see him alongside Max Verstappen in the Red Bull. I can't imagine he is going to say no to it.
"As I understand, it's not a 100 per cent, but 90 per cent correct."
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As a result, Mercedes will likely need to act fast if they want the Thai driver to replace Hamilton at Mercedes next year.
Topics: Red Bull Racing, Mercedes, Lewis Hamilton, Formula 1
Ryan Smart