Nike has reportedly held talks with Formula One Management about a possible sponsorship and licensing arrangement, sources told Sports Business Journal. Nike left major auto racing (Formula 1) sponsorships in 2002, when its high-profile partnership with legendary driver Michael Schumacher ended.

Sources told SBJ that  Nike executives have attended the Miami GP in May. The brand has also recently been affiliated with Cadillac, the joint F1 team venture between General Motors and TWG Global. Valtteri Bottas and Sergio Perez, veteran Formula 1 racing drivers currently competing for the debut Cadillac Formula 1 Team, have appeared in Cadillac imagery wearing Nike shoes, while team CEO Dan Towriss and his wife were given custom Cadillac-branded Nike Dunk Low sneakers in Miami, according to Hypebeast.

No agreement has been reached and both Nike and F1 declined to comment to SBJ. A source told SBJ that Cadillac maintains “constant dialogue” with Nike, although no formal deal has been announced.

Nike made waves in 1996 when it entered Formula 1 by signing a personal endorsement deal with Michael Schumacher, arguably the biggest name in racing history, when he moved to Scuderia Ferrari. As part of the sponsorship that lasted until 2022, Nike created customized racing boots for him and a lifestyle sneaker called the Air Zoom Schu.

Nike simultaneously built a heavy presence across American motorsport, particularly in NASCAR and IndyCar. Similar to basketball and other team sports, Nike focused on sponsoring individual drivers and supplying performance footwear rather than branding entire racing teams or cars. Other Nike-sponsored race car drivers in the past included Dale Earnhardt Sr., Tony Stewart, Dale Jarrett, Bobby Labonte, Jeff Gordon, Adam Petty, and Al Unser Jr.

SBJ said any potential F1 agreement could include both sponsorship and licensing elements, although it remains unclear how that would fit alongside F1’s existing relationship with Puma.

Nike would face a crowded F1 market for apparel sponsorships. Major apparel and sportswear brands with official partnerships, teamwear contracts, or merchandise deals across Formula 1 include Puma, Adidas, Castore, New Era, Hugo Boss, Tommy Hilfiger and Gucci.

Image courtesy Nike