Nike is reportedly in talks with Formula 1 over a potential sponsorship and licensing agreement that could bring a major new commercial partner into the championship.
According to US trade publication Sports Business Journal, senior Nike executives have already held discussions with Formula 1 management, potentially paving the way for the sportswear giant’s first official F1 partnership in more than 20 years.
Nike executives reportedly held F1 talks in Miami
Sports Business Journal reports that high-ranking Nike managers were present at the Miami Grand Prix in May as negotiations over a possible agreement took place.
No formal deal has been announced, meaning Nike’s involvement remains unconfirmed. However, several developments have fuelled speculation that the company is preparing to return to Formula 1.
Before the 2026 season, Cadillac drivers Valtteri Bottas and Sergio Perez were photographed wearing identical Nike shoes. Cadillac team principal Dan Towriss and his wife also reportedly received custom-made Nike sneakers during the Miami Grand Prix.
According to insiders cited by Sports Business Journal, Cadillac remains in regular contact with Nike, despite Tommy Hilfiger currently serving as the team’s official clothing partner.
Nike has history with Formula 1
A return to Formula 1 would not be Nike’s first connection with the championship.
The company’s previous major involvement came through a personal advertising agreement with seven-time world champion Michael Schumacher, which ran from 1996 until 2002.
A new partnership would place Nike alongside a growing collection of major sportswear brands already involved in Formula 1.
Adidas has agreements with both Mercedes and Audi, while Puma, Castore and New Era have also established significant positions within the championship. It remains unclear whether a potential Nike deal with Formula 1 would have any implications for the company’s existing relationship with Puma.
Formula 1’s commercial growth creates opportunity
For Nike CEO Elliott Hill, a Formula 1 partnership could provide access to one of the fastest-growing global sports properties.
According to the report, F1’s stock price has increased by 111% over the past five years, while Nike’s share price has fallen by 76% during the same period.
The potential financial opportunity is also significant. Analysis from asset management company Bernstein estimates that Formula 1 currently generates between $80 million and $150 million annually from licensing fees.
That figure could rise substantially in the coming years, with Bernstein forecasting annual licensing revenue of as much as $310 million by 2028.
Nike and F1 yet to confirm agreement
Despite the growing speculation, there is currently no confirmed Nike-Formula 1 agreement.
Neither Nike nor Formula 1 provided a comment when approached by Sports Business Journal.
If a deal is eventually completed, Nike’s return would represent another significant commercial endorsement of Formula 1’s growing global appeal. It would also give the championship another major international sportswear brand at a time when licensing and merchandise revenues are becoming an increasingly important part of its commercial expansion.
For now, however, any partnership remains a reported possibility rather than an officially confirmed Formula 1 deal.
Would you like to see more TJ13 Formula 1 coverage? Add us to your favourites list on Google to receive trusted F1 news.
Alex Stanton is a Formula 1 journalist at TJ13 with a focus on the financial and commercial dynamics that underpin the sport. Alex contributes reporting and analysis on team ownership structures, sponsorship trends, and the evolving business model of Formula 1.
At TJ13, Alex covers topics including manufacturer investment, cost cap implications, and the strategic direction of teams navigating an increasingly complex financial environment. Alex’s work often examines how commercial decisions translate into on-track performance and long-term competitiveness.
With a strong interest in the intersection of sport and business, Alex provides context around Formula 1’s global growth, including media rights, expansion markets, and manufacturer influence.
Alex’s reporting aims to explain the financial realities behind headline stories, helping readers understand how money, governance, and strategy shape the competitive order in Formula 1.
