Nike nearing deal to enter Formula 1 and rival Puma and Adidas
Nike is believed to be nearing a deal which will see the sportswear giant enter Formula 1 after more than two decades off the grid. The American apparel firm has held talks with the premier motor sport series about becoming the kit provider for all Formula 1 employees. GP Blog reports that the deal is [...]
Nike is reportedly close to finalizing a deal to join Formula 1, potentially ending a two-decade absence from the sport. The American apparel company has been in discussions with Formula 1 about becoming the kit provider for all employees in the premier motor sport series. The potential partnership would see Nike return to the grid alongside rivals Adidas and Puma, who currently hold contracts with Mercedes, Audi, Ferrari, McLaren, and Aston Martin.
Red Bull, Alpine, Haas, Williams, Racing Bulls, and Cadillac are sponsored by Castore, New Era, Hugo, and Tommy Hilfiger respectively. This move would expand Formula 1's sponsorship portfolio, which already includes notable names like Aramco, Pirelli, AWS, Qatar Airways, and DHL. While Nike is reportedly nearing a deal, Formula 1's chief communications and corporate relations officer, Liam Parker, declined to comment on the speculation, highlighting the significant shift in the industry over the past five years.
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