Pirelli has won the tender to remain as Formula 1’s sole tyre supplier for the 2020-2023 seasons, surviving a competing bid from DTM and FIA European Formula 3 Championship supplier Hankook.
The new arrangement will be compliacted by a change of regulations in 2021 when the series will ban the use of tyre blankets and switch to using 18-inch wheels.
“Pirelli have been an important and valued partner to Formula 1 since 2011,” said F1 chairman and CEO Chase Carey. “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.”
“It’s excellent news that Pirelli is prolonging its partnership with Formula 1 until 2023,” added 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.”
Pirelli has been Formula 1’s sole tyre supplier since 2011.
Image via Sutton Images
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