F1 set for major contract signing news as Sergio Perez nears return to grid

Sergio Perez is without a Formula 1 seat this season but is said to be closing in on a return to the grid, while his home race the Mexican Grand Prix could soon celebrate more good news
Sergio Perez is expected to be in Florida this week as Formula 1 returns to the USA for the Miami Grand Prix. News of his travel plans come as reports suggest the Mexican is closing in on a return to the grid.
Perez was axed at the end of last season following a torrid season with Red Bull. Max Verstappen won the drivers’ title but the Mexican’s struggles to perform saw the team finish just third in the constructors’ championship, behind winners McLaren and runners-up Ferrari.
He is currently off the grid as a result but made it clear shortly after his Red Bull exit was announced that he did not plan to call time on his F1 career just yet. And the 35-year-old is being heavily linked with a 2026 drive.
As first reported by the Times, Perez is in advanced talks with the new Cadillac outfit which will form F1’s 11th team from next year. His experience will be highly sought-after while his popularity in Mexico in particular but also across North America makes him an even more attractive option for Cadillac.
READ MORE: George Russell hints at ‘interesting summer’ as huge twist mooted for F1 driver marketREAD MORE: Lewis Hamilton could retire before contract expires as Ferrari struggles ‘no fun’
Perez is one of two experienced F1 stars understood to have been in talks with the outfit. The other is former Sauber driver Zhou Guanyu, who is a reserve for Ferrari this year and who has a personal relationship with team principal Graeme Lowdon.
But the former seems to be in pole position to land one of the two new seats available on the grid as a result of Cadillac’s entry. And Autosport reports that the former Red Bull racer will be in Miami this week ahead of Sunday’s Grand Prix.
Sky Sports launches discounted Formula 1 package

£43
£35
Sky
Get Sky Sports here
Formula 1 fans can watch every practice, qualifying and race live with Sky’s new Essential TV and Sky Sports bundle in a new deal that saves £192.
As well as Sky Sports access, this includes more than 100 TV channels and free subscriptions to Netflix and Discovery+.
Cadillac plan to launch their new F1 brand at a special event on Saturday night in Miami. Mirror Sport will be among those in attendance as top executives speak at the exclusive event, being held at a venue in Miami Beach.
Perez’s potential return to the grid also coincides with a positive update over the future of his home race. The Mexico City Grand Prix’s current contract expires at the end of this year but the head of the capital’s government, Clara Brugada, has promised an extension soon.
“Next week, we will be signing the agreement with F1,” she announced at a press conference last Thursday. The event has become increasingly popular in recent seasons, since Perez first began to drive for a front-running team, and organisers would love to see Mexico’s home hero return to the sport.
Cadillac representatives have said in recent months that their preference would be to pair a more experienced F1 racer with a younger driver who has high potential. There is also a preference for one of their drivers to be American with Colton Herta still the front-runner, if he does well enough in IndyCar this year to earn an FIA superlicence.