Sergio Perez 'reaches agreement' over F1 return as announcement date revealed

Sergio Perez has reportedly 'reached an agreement' with the new Cadillac F1 team, with an announcement about his future expected at the Italian Grand Prix. The Mexican racer has been chasing a return to the sport since leaving Red Bull at the end of the 2024 campaign. The 35-year-old was dropped by Red Bull after a miserable second half of the 2024 season, but the intense struggles of Liam Lawson and Yuki Tsunoda have improved the general perception of his performances in retrospect.

Now, one of Formula One's greatest midfield overachievers is set for a return to the grid. According to a report from PlanetF1, Perez has reached an agreement with Cadillac, who will join the grid as F1's 11th team in 2026. Talks between the two parties have been public knowledge for months, and now an agreement is expected at the Italian GP in September.

When Perez is announced as Cadillac team principal Graeme Lowdon's first signing, he will return to the paddock with the backing of his former Red Bull team-mate Verstappen. Checo has always been very strong," the Dutchman said.

"Of course, he had some difficult moments with us, but as long as he has the motivation to race, I think he is a very good choice, especially for a new team. If you look at his performances at Force India and Racing Point, you will see that he always scored good points there."

With Perez seemingly heading for the entrance at Cadillac, attention turns to the new squad's second seat. The biggest implications of the six-time Grand Prix winner's reported deal will affect Valtteri Bottas. Until now, the Finn was considered the frontrunner to drive for Lowdon's team in 2026, but his viability is now up in the air.

The suggestions from within the Cadillac camp have been that the team plans to pair an experienced head with a promising young rookie. Hence, the American outfit have been linked with a number of young stars, including Felipe Drugovich, Jak Crawford and even IndyCar heavyweight Colton Herta.

While Bottas still has a chance of signing with the new squad, he could also look elsewhere to Alpine, who are still weighing up Franco Colapinto's future following a difficult start to the year. Either way, he has his team principal's backing.

"Obviously, Valtteri has been part of the Mercedes family for a long, long time," Toto Wolff explained. "He is a driver where, if some of our drivers had fish poisoning, you put him in the car and he's going to be absolutely on pace. That's great to know - that your reserve and third driver is as quick as it gets. Obviously, with Valtteri, he deserves a race seat. Hopefully, that door is going to open. Watch this space."