GENEVA (June 24, 2010)—The Federation Internationale de l'Automobile's World Motor Sport Council has selected Pirelli Tyre S.p.A. as the single-source tire supplier for its Formula 1 world championship and GP2 championship the 2011-2013 seasons.
Pirelli won the F1 contract over a competing bid from Michelin and will succeed Bridgestone Corp. as both the F1 and GP2 supplier.
Details of the F1 contract, disclosed in notes from a Motor Sport Council meeting in Geneva on June 23, weren't disclosed, other than to say, “The sole supplier will undertake to strictly respect the sporting and technical regulations implemented by the FIA.”
Pirelli said it won the F1 contract based on its specific proposals “to guarantee technical and operational stability to the competitors.” The tire maker said it agreed to provide teams with six types of tires—four slick versions with different compounds for various types of dry surfaces, one rain tire for heavy rain and one intermediate tire for damp conditions or light rain.
The contract was ratified by the FIA, the Formula One Teams Association and Formula One Management, the sport's organizing body.
Although the parties did not disclose the contract's terms, Pirelli said: “The current economic climate has led to a realistic and collaborative approach with all the teams, ensuring that manufacturing and logistical costs are shared fairly.”
Pirelli will take over the contract from Bridgestone Corp., which has been the single tire supplier for Formula 1 for the past four seasons.