Pirelli secure contract extension until 2023

Pirelli will remain as Formula 1's official tyre supplier until at least the end of the 2023 season, officials have confirmed. The Italian marque was contending against Hankook to be the next tyre supplier following f the end of the current contract in 2019.

Pirelli became F1's sole tyre supplier for the 2011 season, and became known for its high degradation tyres. In 2017, it revised the way the tyres were built allowing them to go longer into the races with drivers being able to push harder on them.

The FIA confirmed earlier this year that two manufacturers had offered a bid to the FIA to be the next supplier. However, after an extensive review of both bids, Pirelli was deemed to be the more favourable option on the tender going forward.

As part of the 2021 regulations overhaul, Pirelli now has the go-ahead to design all-new 18-inch wheels: "Pirelli have been an important and valued partner to Formula 1 since 2011," said F1 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.”

Pirelli has introduced a series of slick tyres over the last number of years which has contributed to the improved speed of the current generation of cars. Marco Tronchetti Provera, Pirelli Vice President and CEO, said that he is pleased with the new deal.

“It’s excellent news that Pirelli is prolonging its partnership with Formula 1 until 2023. 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," he continued.

“Formula 1 provides the perfect showcase for our Ultra High Performance road car tyres, which equip the world’s most desirable prestige and premium vehicles to guarantee the highest standards of performance, sustainability and safety."