Pirelli extend contract to stay in Formula 1

Pirelli will continue to be the sole tyre supplier to Formula 1 until at least 2023. They faced competition from Hankook in the bidding process, but Chase Carey has confirmed Formula 1 will continue its relationship with Pirelli who have been involved in the sport since 2011. 

The current Formula 1 tyre contract runs out at the start of the 2020 season and this news means that Pirelli will be supplying Formula 1 for at least another 3 years. The new contarct sees some changes being brought in to the tyre. As part of Formula 1's technical changes Pirelli will be changing the size of the tyre to 18 inch wheel rims for the start of the 2021 season. 

"Pirelli have been an important and valued partner to Formula 1 since 2011" saidd F1 CEO Chase Carey (www.crash.net).

"They are a premium brand and our ongoing partnership with them is proof of our desire to align F1 with the best in motorsport." 

Pirelli Vice President also agrees that the deal is good for both parties: "Formula 1 is and will remain the pinnacle of motorised competition, the perfect environment for Pirelli."