Sources: Amid toe-dip back into racing, Nike exploring possible Formula 1 deal

Nike is reportedly in discussions with Formula One Management about a potential partnership deal, with company executives attending the Crypto.com Miami Grand Prix in May. Signs of Nike's renewed interest in F1 include Cadillac F1 Team drivers Valtteri Bottas and Sergio Perez being photographed in Nike footwear, and team CEO Dan Towriss receiving custom Cadillac F1-branded Nike Dunk Low sneakers at Miami. Nike's previous involvement in F1 dated from 1996 to 2002, when it held an endorsement deal with seven-time world champion Michael Schumacher.