MILAN, Italy (June 6) — Pirelli & C. S.p.A. is considering bidding on becoming the spec tire supplier to Formula 1 Grand Prix racing starting with the 2008 season, according to the firm´s motorsports director.
F1´s organizing body, the Federation International de l´Automobile, is accepting bids for the contract through June 23; the winning bidder will be announced July 7.
Michelin and Bridgestone Corp. supply the international racing series now, but Michelin has stated this year is its last because it disagrees with the FIA´s decision to restrict F1 to a single tire supplier.
Pirelli is "seriously considering" a bid to enter F1, according to Paul Hembery, motorsports director, as well as moving up into the top echelon of the Le Mans-type endurance racing prototypes. Pirelli last competed in Formula 1 from 1988-1991.
Under the terms and conditions of the bid tender, the company selected to be the tire supplier would supply all teams with all tires — for racing and testing — and necessary support functions free of charge. In return the winning bidder gets the right to identify itself as the "official tire supplier" of the F1 World Championship.