Bridgestone pledges to stay

A Bridgestone spokesman said: "We have a commitment to Formula 1, we want to work with the manufacturers in the sport and there are also a number of technical benefits relating to road car tyres which evolve through competing in motor sport. We would want to be involved whether there is competition or not."

The single supplier suggestion is a controversial one. On the one hand, it is an effective way of keeping a lid on speeds because if a tyre company is not facing competition, it can supply harder compound, slower tyres to everyone.

On the other hand, removing tyre competition eliminates a factor that can be responsible for welcome variations in performance at a time when putting on a better, more interesting show is always a prime consideration.

Michelin's competitions boss Pierre Dupasquier said: "We came into F1 at the request of some of our partners who thought, and still think by the way, that going with us could give them an advantage over Bridgestone.

"If there is no longer competition, then perhaps there is no longer any point, but we weren't thinking about that when we came in and we haven't given the matter serious though yet. There is a long time to go before 2008 so we will sit and wait to see what transpires with the FIA."