Sergio Perez "no longer felt comfortable" at Red Bull, though a Formula 1 return remains possible, according to a key sponsor.
Jimmy Morales, head of the Carlos Slim-founded Escuderia Telmex Telcel programme that bankrolled the Mexican's career, made the assertion.
Telmex-linked Latin American brands have vanished from Red Bull's livery since Perez was replaced by Liam Lawson, though 'Claro' has since popped up on the Audi-owned Sauber car.
Morales, echoing Perez's father Antonio Perez Garibay, suggested a potential F1 comeback.
"Checo doesn't need to return to racing - he's already done what he should have done in his career," he told the Formula de 2 podcast.
"But if he does go back, it will be because he feels like it, because he wants to, and because he's hungry for success."
Morales noted that when Red Bull finalised its split with the 35-year-old, no race seats were available.
"We're always trying to negotiate, but the truth is that they caught us at the very end," he said.
Still, Morales insists Perez had grown restless at Red Bull regardless.
"There are a lot of interests," he said. "Whether it's fair or not, there are internal pressures, the Red Bull board - too many things, and our driver no longer felt comfortable there.
"He started to say, 'If they are going to give me a car to fight for last place, what's the point?'"