Sergio Perez says the rebranded Racing Point Formula 1 team has set “really extreme” targets and bids to reach the “next level” following its fresh investment. 

The Silverstone-based squad has secured a new title partnership for 2019 having gained backing from the sports betting platform SportsPesa, in addition to the investment made by Canadian businessman Lawrence Stroll, who led a consortium to buyout the former Force India team from administration last year amid financial struggles.  

Racing Point technical boss Andrew Green said the “seismic” investment leads to increased expectations for the upcoming campaign and Perez hopes the revitalised team can take another step forward in 2019. 

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“We are the same team as basically six years ago, but with a new characteristic,” Perez said at the unveiling of Racing Point’s 2019 F1 car.  

“The targets are really extreme. We really want to go to the next level as a team. 

“I think we’ve been extremely successful in the past, but now is really the time where we have to show what we can really do, now that we have all the tools in place. I think this team can really go to the next level.” 

Asked for more detail on the targets, Perez replied: “I think I will be happy finishing at least fourth in the constructors, that’s the minimum target, which is really high when you consider the amount of competition. 

“It’s not going to be easy, but this team has done it before. I would be very pleased if we can have a couple of podiums as well, have a great season, and why not our first victory together?” 

After forfeiting its previous points tally under its former Force India guise, the Racing Point entry recovered to end 2018 seventh in the constructors’ championship, having claimed back-to-back fourth places the previous two years.

Racing Point team principal Otmar Szafnauer is expecting the midfield competition to be intense once more in 2019 but insists his squad is ready for a “tough” battle. 

“It will be a battle,” he explained. “I didn’t coin this but the definition of insanity is the same input, same process but you expect a different output. 

“But for us we haven’t reached insanity yet because we didn’t lose a single person through the administration process so all those people that helped us finish fourth in the past are still with us, we’ve got a little more resources but the midfield competition is high. 

“You’ve got Renault spending all sorts of money with twice the people we have, McLaren and Williams shouldn’t be where they are, they will be strong.

“Haas has shown they can do the job with a little bit of help from Ferrari - so it is tough - and Toro Rosso and Red Bull are no slouches.” 

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