Despite strong speculation linking Sergio Perez to a 2026 Formula 1 return with Cadillac, no contract has been signed, according to Sky Italia reporter Roberto Chinchera.
Perez, appearing in the Miami Grand Prix paddock for the first time in 2025 after being dropped by Red Bull, is being tied to a reported three-year deal with Cadillac, the incoming eleventh F1 team.
However, Chinchera clarified, "There are rumours, but nothing has been signed so far. Checo is one of the drivers on the list, but at the moment this doesn't seem to be a priority for the group."
Cadillac is set to host a high-profile red-carpet event on Saturday, where the team's 2026 F1 livery is expected to be unveiled, but sources indicate Perez, 35, will have no official role.
Team boss Graeme Lowdon brushed off the latest speculation with humour, stating, "Over the past few months, I have learned a lot of new things, and one of them is that literally everyone wants to drive for Cadillac."
He added, "Seriously, we have a pretty good idea of who we need, and we are currently in the final stages of discussions about driver candidates. But our priority right now is to create something for the drivers to drive."
Indeed, Lowdon outlined the team's immediate focus, which includes track testing with a prototype car "to get the mechanics busy."
He explained, "At some stage we will start testing on a track to give our engineers a chance to get used to each other and to start the process of integrating the drivers and the team."
While the on-track testing won't be with the 2026 car, Lowdon confirmed that a 2026 prototype has now been completed at Cadillac's factory.
Mathias Lauda, son of F1 legend Niki Lauda, suggested Perez's prospects remain strong despite his Red Bull exit.
"Even though the car was better last year, you have to say—Perez wasn't quite as bad as it was said," Lauda told Osterreich newspaper, noting that Perez's successors, Liam Lawson and Yuki Tsunoda, have also struggled in 2025.
"That's why he now has a good chance of returning to Formula 1 with Cadillac."
