Pirelli granted F1 contract extension until 2024

Pirelli has been granted an extra year to its current Formula 1 tyre supply contract to make up for the delay in introducing the new regulations.

Pirelli granted F1 contract extension until 2024

The Italian manufacturer's latest deal covered the four seasons from 2020 to 2023, and only the first was to be with traditional 13-inch tyres before the originally planned switch to 18-inch in 2021.

However, as the COVID-19 pandemic hit last year the new F1 regulations were postponed to 2022, which meant that Pirelli would have been guaranteed only two years with the 18-inch rubber in 2022 and 2023 before potentially losing out at the next tender process.

Acknowledging that the situation was unfair on Pirelli given the investment required the FIA and F1 proposed an extension which Pirelli was happy to accept.

The tyre company has contracts with both organisations in relation to the supply deal, with F1's covering commercial arrangements.

"I want to thank F1 and Pirelli for their collaboration, flexibility and commitment to our sport during this most difficult period,” said FIA president Jean Todt.

“COVID-19 has presented us with significant challenges across all aspects of our businesses, but by working together in a sensible, pragmatic way, we have been able to ensure that the long term stability and strength of F1 remains undiminished.

“The shift to 18-inch wheels and tyres will certainly provide a more exciting image for F1 cars, but it has also presented a significant technical challenge requiring a lot of investment and development on behalf of Pirelli as they continue to deliver tyres that will perform at the highest level.

“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".

Sergey Sirotkin, Renault F1 Team with 18-inch tyres

Sergey Sirotkin, Renault F1 Team with 18-inch tyres

Photo by: Pirelli

F1 CEO Stefano Domenicali agreed that an extension was the right solution.

“The pandemic caused disruption across the world and F1 was not immune from that,” said the Italian.

“We therefore took the necessary measures last year to defer the regulations by one year to 2022. We are very proud of our partnership with Pirelli and grateful to them for their constructive approach to this timing change.

“Pirelli are very conscious of the 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.”

Pirelli CEO Marco Tronchetti Provera said: “We're obviously pleased to have reached this agreement that will extend our presence at the pinnacle of world motorsport until 2024.

“Motorsport forms part of our DNA and F1 represents an open air laboratory that allows us to apply the knowhow gained on track into our road car tyres.”

shares
comments
FIA reveals cause of Grosjean fireball after concluding crash investigation
Previous article

FIA reveals cause of Grosjean fireball after concluding crash investigation

Next article

Drive to Survive Season 3: Release date, featured teams and more

Drive to Survive Season 3: Release date, featured teams and more
The combination behind the Silverstone racing battles Hamilton called "F1 at its best" Plus

The combination behind the Silverstone racing battles Hamilton called "F1 at its best"

OPINION: The late battling in the British Grand Prix wowed Formula 1 fans and surely represents the best racing action of the season so far. And there was a cocktail of factors that created the action, from which Carlos Sainz emerged as a popular new winner

How Ferrari’s Monaco headache became its Silverstone migraine Plus

How Ferrari’s Monaco headache became its Silverstone migraine

OPINION: Ferrari won the British Grand Prix with Carlos Sainz, but it ultimately cost Charles Leclerc a chance to make a bigger dent in Max Verstappen's title lead by leaving the Monegasque out on old tyres towards the end. Like Monaco, indecision over strategy proved to be the Scuderia's biggest issue - and if the team doesn't reflect, the headache can only intensify

The five factors behind Sainz winning a British GP he’d twice lost Plus

The five factors behind Sainz winning a British GP he’d twice lost

Formula 1 has a newest race winner, in a grand prix the victor appeared to have lost twice, only to charge back to headline a sensational and dramatic British Grand Prix. From a massive start crash to a late sprint finish, here’s how five factors saw Carlos Sainz take his maiden grand prix win

Formula 1
Jul 4, 2022
Why there was no case to answer in Aston’s latest F1 copycat saga Plus

Why there was no case to answer in Aston’s latest F1 copycat saga

The appearance of a revised Aston Martin in Spain caused controversy but PAT SYMONDS explains why the FIA investigation found the Silverstone team had no case to answer

Formula 1
Jul 3, 2022
Why it's Red Bull that really leads a three-way fight so far at Silverstone Plus

Why it's Red Bull that really leads a three-way fight so far at Silverstone

After a slow start to Friday at Silverstone, all the Formula 1 teams had to effectively cram in a day’s worth of practice into one hour. But there was still plenty to learn and while Ferrari topped the times, a three-way battle is brewing ahead of the British Grand Prix

Formula 1
Jul 2, 2022
Why the future is bright for the British GP Plus

Why the future is bright for the British GP

It wasn’t so long ago the situation looked bleak at Silverstone with the future of the British Grand Prix under threat. But a transformation has seen it restored to one of the most important races on the Formula 1 calendar, with bigger and better to come

Formula 1
Jul 1, 2022
Could mixed fortunes for F1's leading Brits turn around at Silverstone? Plus

Could mixed fortunes for F1's leading Brits turn around at Silverstone?

For the first time in many years, none of the local racers starts among the favourites for the British Grand Prix. But George Russell, Lewis Hamilton and Lando Norris could have reasons for optimism

Formula 1
Jun 30, 2022
Verstappen exclusive: Why F1’s champion isn’t fazed by Silverstone return Plus

Verstappen exclusive: Why F1’s champion isn’t fazed by Silverstone return

Max Verstappen is the world’s number one racing driver… and he’s determined to keep it that way. Speaking exclusively to GP Racing's OLEG KARPOV, the Red Bull driver explains why he’s relishing the 2022 championship battle with Charles Leclerc – and why he’s not worried about returning to Silverstone, the scene of the biggest accident of his career last year

Formula 1
Jun 30, 2022