The Italian manufacturer has been the sport’s sole supplier since they returned in 2011, but French company Michellin had thrown its hat into the tender ring for 2017-2019 contract.
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Pirelli had competition from Michelin for the tyre supply deal from 2017 to 2019, but after entering negotiations with Ecclestone Pirelli came out on top. “The official procedure will follow”, Pirelli Motorsport said on Twitter.
Mr. Ecclestone confirmed the deal to Pirelli Chairman Marco Tronchetti Provera on camera as the two shook hands, according to multiple media reports. Sky F1 understands those demands have been accepted as part of the new deal.
However, as expected, FOM and the FIA have favoured retaining ties with Pirelli after Michelin’s pitch for creating tyres that favour durability was not favourably received by the commercial rights holder.
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Incumbent Pirelli has won the race to be F1’s tyre supplier beyond 2016.
