Sportswear giant Nike is reportedly close to a deal that would see it re-enter Formula 1. The American apparel firm has held discussions with the premier motor sport series regarding becoming the kit provider for all Formula 1 employees.
GP Blog reports the deal is close, and City AM understands that discussions are ongoing, with no formal agreement yet signed. This move would mark Nike's return to Formula 1 after being largely absent since a major deal with Michael Schumacher concluded in 2002.
If the deal goes through, Nike would join rivals Adidas and Puma, who already have a presence in Formula 1. Puma currently holds contracts with Ferrari, McLaren, and Aston Martin, while Mercedes and Audi are dressed by Adidas.
Formula 1's chief communications and corporate relations officer, Liam Parker, told City AM earlier this month that he could not comment on the Nike speculation. However, he noted that a brand of Nike's nature being discussed for a partnership highlights the series' growth over the past five years.