{"id":877684,"date":"2026-08-31T01:52:11","date_gmt":"2026-08-31T01:52:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/877684\/"},"modified":"2026-08-31T01:52:11","modified_gmt":"2026-08-31T01:52:11","slug":"sources-amid-toe-dip-back-into-racing-nike-exploring-possible-formula-1-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/877684\/","title":{"rendered":"Sources: Amid toe-dip back into racing, Nike exploring possible Formula 1 deal"},"content":{"rendered":"

Nike has quietly started getting involved with F1 again this year, a potential sign of a larger deal to come between the sportswear giant and global racing series, people familiar with the matter said.<\/p>\n

In 1996, Oregon-based Nike struck an endorsement deal<\/a> with legendary F1 driver Michael Schumacher \u2014 whose son Mick now races in IndyCar in America \u2014 in a commitment that lasted until 2002 when he signed with Fila<\/a>. <\/p>\n

Then, this year, hints popped up that Nike was again paying attention to F1. In the offseason, Cadillac F1 Team drivers Valtteri Bottas and Sergio Perez were seen in photographs released by the team wearing the same Nike tennis shoes. At the F1 Crypto.com Miami Grand Prix in May, Hypebeast reported that team CEO Dan Towriss and wife Cassidy were gifted custom Cadillac F1 Team-branded Nike Dunk Low sneakers. <\/p>\n

A person familiar with the matter said the team has constant dialogue with Nike, though no formal arrangement has been announced. Tommy Hilfiger is Cadillac\u2019s official apparel partner<\/a>. <\/p>\n

Now, F1 industry sources say Nike execs were also on site at the Miami Grand Prix in May, and that the company has had talks with Formula One Management, the organization that runs the series, about a potential deal.<\/p>\n

Such an arrangement with F1 could span sponsorship and licensing elements, although the proposed details and prospective terms were not known. F1 has a deal with German sportswear maker Puma in producing co-branded apparel and accessories. It was unclear how a deal with Nike could impact the alignment with Puma. <\/p>\n

Nike and F1 declined to comment when reached by SBJ. Nike\u2019s talks with F1 had not been previously reported.<\/p>\n

\"Nike\/Schumacher\"F1 driver Michael Schumacher endorsed Nike from 1996 through 2002 Roland Scheidemann\/Getty Images <\/p>\n

Apparel and fashion brands are among those that have flooded into the F1 scene since the \u201cDrive to Survive\u201d boom, and Nike\u2019s competitors that have deals in the sport also include Adidas, New Era and Castore. Adidas has two team deals in F1 with the factory teams for Mercedes-Benz and Volkswagen Group\u2019s Audi brand. <\/p>\n

Getting back into F1 officially could represent one of the new strategies from Nike CEO Elliott Hill as he tries to mount a turnaround of the company. Compared to the 111% increase the Liberty Media\/Formula 1 stock has enjoyed in the last five years, Nike\u2019s stock is down 76% over that same span, according to Yahoo Finance data. Of 42 analysts covering the Nike stock, 24 have a \u201cHold\u201d rating, while nine rate it a \u201cStrong Buy,\u201d six rate it a \u201cBuy,\u201d and three rate it as \u201cUnderperform,\u201d with none having it as a \u201cSell,\u201d according to CNBC Pro data.<\/p>\n

Nike\u2019s Air Jordan brand has also been dabbling in racing as part of Michael Jordan\u2019s NASCAR venture, 23XI Racing. <\/p>\n

Bernstein analyst Ian Moore in a recent note about the F1 stock<\/a> said that its information shows F1 making between $80M-$150M in annually licensing royalties today, \u201cwith a credible path toward $175M-$310M by 2028.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Nike has quietly started getting involved with F1 again this year, a potential sign of a larger deal…\n","protected":false},"author":2,"featured_media":877685,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[441],"tags":[49,48,578,576,577,14924,82],"class_list":["post-877684","post","type-post","status-publish","format-standard","has-post-thumbnail","category-formula-1","tag-ca","tag-canada","tag-f1","tag-formula-1","tag-formula1","tag-nike","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/877684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=877684"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/877684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/877685"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=877684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=877684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=877684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}