LONDON: The pinnacle of motorsport, Formula 1 (F1) announced Sunday that Italian tyre manufacturer Pirelli has been confirmed as its sole global tyre partner from 2020-2023, in what is an extension of their previous deal. The contract was up for renewal at the end of the 2019 season.
Interestingly, Pirelli’s first association with F1 was way back in 1950 when Formula 1 held its first ever championship season. That deal lasted for a period of three years.
All parties have reaffirmed their commitment to work together towards the new technical regulations expected for the partnership’s 10th consecutive year in 2021, such as the 18-inch tyre.
F1 chairman and CEO Chase Carey said: “Pirelli have been an important and valued partner to Formula 1 since 2011. 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.”
Pirelli VP and CEO Marco Tronchetti Provera said: “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. 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.
