Sergio Perez has "reached an agreement" to return to F1, just a year after he was dropped by Red Bull.
The Mexican has been chasing a return to F1 after multiple disappointing seasons alongside Max Verstappen at Red Bull and a new team seems to have emerged looking for the 35-year-old’s services.
Perez has large backing from a number of Mexican sponsors, and along with his six Grand Prix victories, he has experience that a team may need.
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According to reports, Perez has reached an agreement to join the Cadillac F1 Team for 2026.
The American manufacturer is set to join the grid in 2026 as the 11th team and it has been publicly known that talks between the team and the driver have been taking place.
Sergio Perez has reportedly agreed to drive for Cadillac for 2026
|PA
However, Planet F1 has now revealed that an agreement has been reached and an announcement is likely to be made at the Italian Grand Prix in September.
Should the Mexican returns to the grid, he will be doing so with the backing of reigning world champion and former teammate Verstappen, who had nothing but praise for the 35-year-old.
He said: “Checo has always been very strong.
“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 the first seat seemingly confirmed for Cadillac, attention falls to the second seat.
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Cadillac F1 are set to join the grid in 2026 | Getty Another driver who has been heavily rumoured for a seat is Vallteri Bottas; however, the agreement with Perez appears to have ruined his plans.
Suggestions from inside the American team say that they want an experienced driver alongside a promising rookie.
With Perez reportedly in place, it seems unlikely Bottas would fall into the promising rookie status.
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While Bottas could still sign with Cadillac, he could also look around for available seats, most notably Alpine have been very clear that Franco Colapinto’s future is up in the air and a seat may be going at the Enstone team.
While Bottas is Mercedes' reserve driver, Toto Wolff has been very clear that should a full-time seat appear he will be free to take it.
He said: "Obviously, Valtteri has been part of the Mercedes family for a long, long time.
Sergio Perez singing for Cadillac may spell trouble for Valterri Bottas
|Reuters
"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."
While no official announcements have been made about the driver line-up at Cadillac, it seems we will get some confirmation during the Italian Grand Prix in September.