Sergio Perez left Formula 1 at the end of last season when Red Bull decided to part ways with him, despite having agreed a contract extension only a few months earlier in the summer. It was a surprising turn of events, as Perez had signed on for two more years in June, but a dip in performance during the latter half of the year saw the team make the call to replace him.

With the timing of the decision coming so late in the season, the Mexican driver was left with no realistic chance of finding another seat for 2025, forcing him to spend the year on the sidelines.

During his break from the sport, Perez has enjoyed time with his family, but he has been open about wanting to return to the Formula 1 grid. That opportunity now appears to be just around the corner. According to PlanetF1.com, Cadillac are set to confirm Perez as one of their drivers for their debut F1 campaign in 2026, with the announcement expected shortly after the summer break. Talks between the two parties are believed to have been ongoing for much of the year, with a deal now all but agreed.

Cadillac will enter Formula 1 next year as the sport’s 11th team, led by former Manor Marussia boss Graeme Lowdon. For a brand new outfit, the signing of a proven and experienced driver is seen as crucial, and Perez’s decade-long career in F1 makes him a strong fit. Not only does he bring a wealth of racing experience and proven racecraft, but he also has major commercial appeal with long-term sponsorship support from multiple big companies.

If the move goes ahead, Perez is expected to be joined by current Mercedes reserve driver Valtteri Bottas. However, other drivers such as Aston Martin reserve Felipe Drugovich, and current Formula 2 contenders Jak Crawford and Alex Dunne are also believed to be in the running for the second seat.