Nike poised to enter F1 with Vegas announcement
An interesting time for the company financially
Nike is set to enter Formula 1 from 2027, with Bild newspaper reporting that the deal is done and expected to be announced around the Las Vegas GP.
Unlike Adidas and Puma, Nike is not expected to outfit a team.
Instead, the US sportswear giant will reportedly supply Formula 1 personnel with products including shoes and shirts.
Bild says it has confirmed earlier international reports and expects the agreement to be unveiled around the November 22 race weekend.
The move would mark Nike’s return to Formula 1 after previous involvement with Michael Schumacher and Ralf Schumacher in the 1990s and early 2000s.
It also comes at an interesting time for the company financially.
Nike is in the middle of a major turnaround effort, with recent job cuts, falling revenue and weakness in China, while its market value and earnings have dropped sharply in recent years.