After a bidding war, Pirelli will remain the sole tire supplier to Formula 1 until at least 2027.
The Italian manufacturer prevailed over its Japanese competitor Bridgestone, as the racing series confirmed. Pirelli has been the exclusive tire partner of the premier class of motorsport since 2011, but had to worry about extending the contract due to Bridgestone’s interest in returning.
Around 19 million euros more per year
According to the trade magazine “Auto, Motor und Sport”, Pirelli will have to pay 20 million dollars (around 19 million euros) more per year to Formula 1 in the future in order to retain sole supplier rights. In addition, the tire service only costs the teams half as much, namely 750,000 dollars (708,000 euros) per year.
The new contract runs from 2025 to 2027 and also includes an option for a further year. In order to be able to meet the additional expenses for its involvement in Formula 1, Pirelli wants to withdraw from the World Rally Championship as a supplier.
Bridgestone had left Formula 1 after the 2010 season and now wanted to return with a lucrative offer. However, the racing series continues to rely on the experience of its proven partner Pirelli and is therefore playing it safe.
Communication from the Formula 1 report from “Auto, Motor und Sport”
