Force India Team Team Principal and Managing Director, Vijay Mallay has confirmed that Sergio Perez will be retained for the 2015 Formula 1 Season.

Although the Mexican says he is in talks with the team regarding his contract, Mallya said that it was probably due to his contract extension for 2016.

“The possibility came of extending Checo’s contract in to 2016 as well, and that is what is under negotiation,” said Mallya.

“I have a two-year contract with Sergio Perez,” he added.

“He[Perez] can say what he wants: but I exercised my option and it is done.”

“As far as 2015 is concerned, we had a two-year contract with him. We exercised the option, period.

“We are talking about one additional year and that is the whole point of the negotiation.”