Several teams are courting the signature of Sergio Perez, including the new Cadillac team, according to reports in British media.
Cadillac are joining the F1 grid in 2026, and Perez has made no secret of his desire to make a return to the sport, having been axed by Red Bull at the end of the 2024 season.
Cadillac are currently the favourite to sign Perez, with team principal Graeme Lowden confirming that Perez is an option earlier in the year.
The team are seeking an experienced F1 racer to sit alongside a young, preferably American driver, as confirmed by Cadillac advisor Mario Andretti, who is a director on the board of the new team.
According to Autosport, however, Cadillac faces competition from at least two unnamed rival teams, as it appears Perez’s stock is rising once again in F1.
Will Perez return to F1?
Liam Lawson and Yuki Tsunoda’s inability to perform consistently at Red Bull has perhaps softened team bosses' opinion of Perez, who - despite his disappointing results in 2024 - remains a six-time grand prix winner.
However, Cadillac team principal Lowdon has refused to clarify as to whether Perez is the front-runner for one of their seats, and instead stated there are multiple candidates for the team.
“Luckily for us, there are a lot of good drivers out there, unfortunately, we've not been able to be in the driver market until the entry was confirmed,” he said earlier in the year.
“It's important for us to talk to a number of potential candidates. Do we see very talented drivers who currently aren't on the grid? Yes, we do.
“We are going to be quite busy talking to a few people, my phone's certainly been busy. What's a little bit difficult because of the situation that we're in as a new team, the timeline isn't as laid out as it normally is. It's normally quite clear for all of us involved in the driver negotiations.
“But there are easily half a dozen, if not more candidates out there who offer extremely good credentials to be in Formula 1 or to be in Formula 1 again.”