Sergio Perez may be on the verge of a full-time return to Formula 1, with at least two teams reportedly vying for the former Red Bull driver’s signature.
After being dropped by Red Bull at the conclusion of the 2024 season, Perez has remained on the sidelines. His underwhelming campaign saw the team slip to third in the constructors’ standings, and he trailed teammate Max Verstappen by a staggering 285 points. However, just six months later, the Mexican’s value in the F1 paddock appears to be rising once again.
According to Autosport, Cadillac—set to enter Formula 1 in 2026—is currently leading the race to secure Perez, with team advisor Mario Andretti previously confirming that the 34-year-old is on their radar. But Cadillac isn’t alone in its pursuit. Two unnamed teams are also believed to be in discussions with Perez, contingent on developments in their current driver line-ups.
A Resurgence in Demand
Perez recently revealed he had been in talks with several teams, fueling speculation about his return. Despite his difficult final season with Red Bull, Perez remains a six-time Grand Prix winner and a proven points scorer—qualities that continue to appeal to teams, especially newer entrants like Cadillac.
While Cadillac has emerged as a serious contender, team principal Graeme Lowdown has played down the notion that Perez is the clear favorite.
“We’re fortunate that there are a lot of strong drivers available,” Lowdown said.
“We weren’t in a position to enter the driver market until our entry was confirmed, but now we’re speaking with several potential candidates.”
He added that the team’s situation as a new entrant complicates the timeline for finalizing their driver lineup:
“What makes it tricky is that our timeline isn’t as clear-cut as most established teams. Still, there are at least half a dozen drivers with the credentials to compete in Formula 1—or to make a return.”
A Second Chance?
The inconsistent performances of Red Bull’s current drivers, Liam Lawson and Yuki Tsunoda, may also be helping Perez’s stock rise, reminding teams of the stability and experience he brings. While Red Bull hasn’t signaled a return, their struggles without Perez could be shifting perceptions within the paddock.
As the 2026 season approaches and the driver market begins to heat up, Perez remains one of the most intriguing free agents—experienced, still relatively young, and now, seemingly back in demand.