Pirelli has signed an one-year extension to their exclusive tyre supply contract with F1 until the end of the 2024 season.
The current contract was set to expire at the end of 2023 but Pirelli, FIA and F1 have all agreed to extend the deal for another 12 months, with the aim of reflecting the original intention of the tyre tender in 2018 and remain within overall technical framework with new regulations delayed from 2021 to 2022.
F1 were originally set to switch to 18 inch tyres this season but the Coronavirus pandemic caused no testing to be undertaken in 2020, with all parties instead agreeing to delay the move to larger tyres and new technical regulations by a year as 13 inch tyres remain for 2021.
Pirelli Executive Vice Chairman and CEO, Marco Tronchetti Provera is ‘pleased’ to have reached an agreement to remain as F1’s tyre supplier for another year beyond the initially agreed period, as he vowed that the team will continue to invest in highest possible levels of research and development.
F1 CEO, Stefano Domenicali meanwhile is ‘very proud’ to see Pirelli extend their stay in F1 until 2024 with a new tyre tender to follow in due course ahead of the 2025 F1 season.
Domenicali also spoke of his belief that Pirelli is working hard to help improve the racing, commenting: “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.”
Coronavirus however has provided Pirelli, F1 and FIA with challenges in the last month but FIA President, Jean Todt praised F1 and Pirelli for showing ‘collaboration, flexibility and commitment’ during the last year to ensure that long-term stability and strength of F1 is still ‘undiminished’ ahead of the new season.
Todt also commented on plans to introduce 18 inch tyres next season, saying: “The shift to 18″ wheels and tyres will certainly provide a more exciting image for Formula 1 cars, but it has also presented a significant technical challenge requiring a lot of investment and development…”
Pirelli will now look ahead to the new F1 season with pre-season testing set to take place from 12-14 March in Bahrain, ahead of a 23-race season which was finalised today with the addition of the Portugese Grand Prix.
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