A Red Bull Racing F1 technician holds a medium Pirelli F1 tyre ahead of the third practice session at the Circuit Paul Ricard in Le Castellet, southern France, on June 22, 2019, ahead of the Formula One Grand Prix de France. (Photo by Boris HORVAT / AFP)
A Red Bull Racing F1 technician holds a medium Pirelli F1 tyre ahead of the third practice session at the Circuit Paul Ricard in Le Castellet, southern France, on June 22, 2019, ahead of the Formula One Grand Prix de France. (Photo by Boris HORVAT / AFP)

Pirelli’s Formula One contract extended by one year, to 2024

By Reuters Time of article published Mar 8, 2021

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LONDON - Formula One's governing body has extended Pirelli's contract as sole tyre supplier by one year to 2024, to reflect disruption caused by the Covid-19 pandemic.

It said the extension was in the best interests of all stakeholders.

The most recent 2018 tender was for the supply of 13-inch tyres during the 2020 season and then three seasons of 18-inch tyres.

The pandemic triggered emergency measures and led to the postponement to 2022 of the 18-inch tyres, along with major rule changes.

FIA president Jean Todt said the change of tyre size represented a significant technical challenge and investment for Pirelli.

"In light of this, and the necessary postponement of the new regulations as a result of the pandemic, it is only logical to extend the supply of tyres accordingly," he added.

F1 President Stefano Domenicali said the sport was grateful for Pirelli’s constructive approach to this timing change.

“Pirelli are very conscious of strategic role that the tyres have in F1 and we know that they are working very hard to make sure that their products will represent the best balance between performance and durability in the new technical context,” Domenicali said.

“We look forward to the start of the 2021 season and we are all excited for the new cars and new 18-inch tyres to hit the track under the new regulations in 2022.”

Reuters

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