Formula 1 cars will continue to run on Pirelli tyres until the end of the 2023 season.
The Italian brand Pirelli has extended its deal with Formula One to be the sole tyre supplier to the leading care racing competition for the next four years. The extension deal also includes the commitment “to work together towards the new technical regulations expected for 2021, including the 18-inch tyre”.
Pirelli has signed the new four-year deal to remain Formula One’s sole tyre supplier until the end of the 2023 season, F1 has announced in a statement. “We are delighted to have reached this agreement, which guarantees a long-term stable future for such a crucial component of Formula One,” Formula One chairman Chase Carey said.
Pirelli confirmed its commitment “to work together towards the new technical regulations expected for 2021, including the 18-inch tyre”.
Michelin had withdrawn from Formula One in 2006, a year after a farcical U.S. Grand Prix that went ahead with only six cars racing after all the Michelin-equipped teams pulled out on safety grounds.
The sport has had a sole supplier since then. Bridgestone, which came in for Michelin, was replaced by Pirelli in 2011. The latest signing between the FIA and the Italian tyre brand ensures the partnership will continue uninterrupted till the end of the 2023 season.
The current deal was due to expire at the end of 2019 and the governing FIA said last September that more than one company had tendered, although Pirelli’s French rival Michelin had ruled itself out. Media reports had indicated South Korea’s Hankook as the other bidder.
The tender called for a switch from 13-inch (33.02 cm) wheel rims to 18-inch ones in 2021, meaning that any new entrant faced the added cost of having to design one type of tyre for 2020 and a new one for the following three years.
“Pirelli have been an important and valued partner to Formula 1 since 2011,” said F1 chairman and CEO Chase Carey as the news was announced. “They are leaders in providing innovative state of the art capabilities.
“They are a premium brand, a clear global leader in motorsport and our ongoing partnership with them is proof once more of our desire to align F1 with the best in motorsport and beyond.
“We are delighted to have reached this agreement, which guarantees a long-term stable future for such a crucial component of Formula 1.”
FIA president Jean Todt added: “I am happy to have Pirelli appointed for another period as official tyre supplier to the FIA Formula 1 world championship. It will allow all of us to enjoy the experience gained since 2011.
“We know how crucial and difficult is the role of the tyre supplier and, particularly, in Formula 1.”
Pirelli and Hankook were the two parties involved in the tender process.
“It’s excellent news that Pirelli is prolonging its partnership with Formula 1 until 2023,” said Pirelli vice president and CEO Marco Tronchetti Provera. “This new agreement extends our presence to a total of 13 seasons in the modern era, with Pirelli also present in 1950, when the world championship was inaugurated.
“Formula 1 is and will remain the pinnacle of motorised competition: the perfect environment for Pirelli, which has always defined motorsport as its most advanced technological research and development laboratory.”