Sergio Perez has already agreed to the terms of a contract to join Cadillac ahead of the General Motors brand debuting on the Formula 1 grid in 2026, yet is hesitant to sign it.
F1 will boast an 11-team grid for the first time in a decade next term after giving GM the go-ahead to debut its Cadillac brand in the pinnacle of motorsport. But questions persist about which drivers will line up for the American crew, with Cadillac still yet to sign a single driver.
A number of names feature on their shortlist, although F1 Oversteer understands that Perez is Cadillac’s top target ahead of a dozen candidates like Mick Schumacher. GM also used the recent Miami Grand Prix to stage talks with drivers interested in racing with Cadillac in 2026.
Sergio Perez hesitates over signing his Cadillac F1 contract to explore joining Mercedes
Reports by sport.de also now say that Perez remains the ‘hottest prospect’ to join Cadillac in the 2026 F1 season. Yet while the 35-year-old has agreed to the terms of a contract with the GM brand, he is hesitating over signing it so Perez can explore a return to F1 with Mercedes.
READ MORE: Sergio Perez’s life outside F1 from net worth to nickname
| TEAM | ENGINE |
| Red Bull | Red Bull Powertrains (in partnership with Ford) |
| Ferrari | Ferrari |
| McLaren | Mercedes |
| Mercedes | Mercedes |
| Aston Martin | Honda |
| Racing Bulls | Red Bull Powertrains (in partnership with Ford) |
| Haas | Ferrari |
| Williams | Mercedes |
| Alpine | Mercedes |
| Audi | Audi |
| Cadillac | Ferrari |
Perez is also open to the idea of joining Alpine for his return to the Formula 1 grid next term after Red Bull terminated the Mexican’s contract for 2025 in December. So, he is holding off on signing for Cadillac to buy enough time to explore if either opening will become possible.
Cadillac still hope that Perez agrees to sign the contract that the two parties have agreed on, with his substantial money from sponsorship and appeal to the Central and South American markets key factors behind their interest. If not, they have many possible alternative targets.
Mercedes have already held talks with Sergio Perez about replacing George Russell in 2026
Recent developments in the F1 driver market have sparked Perez’s hesitancy to sign the deal he and Cadillac had agreed to, with vacancies potentially coming at Mercedes and Alpine for 2026. The Brackley and Enstone teams, like Cadillac, have not tied down their 2026 line-ups.
George Russell and rookie Andrea Kimi Antonelli are out of contract at Mercedes at the end of this term. And while Russell is expected to sign a new two-year Mercedes contract worth $30m (£23m) per season, the Silver Arrows are still to finalise the Briton’s latest agreement.
READ MORE: Mercedes driver George Russell’s life outside F1 from net worth to height
Additionally, Mercedes have already held initial talks with Perez about potentially replacing Russell in 2026 in case the 27-year-old elects to leave. Red Bull still retain an interest in the Briton, with Russell seen as a leading candidate to fill the void Max Verstappen could create.
Meanwhile, while Pierre Gasly holds a contract for 2026, Alpine replaced Jack Doohan with Franco Colapinto before the Emilia Romagna Grand Prix. But the Renault-owned team have only confirmed the Argentine will enjoy the next five rounds before reviewing their line-up.
The Emilia Romagna GP will mark Mercedes’ 324th Grand Prix entry ever and Russell’s 75th with the Silver Arrows since joining in 2022. Imola also marks Alpine’s 97th Grand Prix since Renault rebranded the French manufacturer’s Formula 1 team ahead of the 2021 campaign.
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