Pirelli have signed a new deal with the FIA to remain as F1’s official tire supplier for the next five years, according to the Daily Telegraph.
The Italian tire manufacturer rejoined F1 in 2011 and its original three-year deal was set to expire this year.
Pirelli has already signed a contract with Bernie Ecclestone and has believed to have made arrangements with several teams. However it was lacking a commitment from the sport’s governing body.
FIA president Jean Todt was rumored to be considering a bid from Michelin to replace Pirelli. Todt, who is now facing a challenge to his presidency from rival David Ward, told media on Saturday that “everyone wants Pirelli”.
Pirelli has endured a turbulent time since returning to F1 as it has borne the burden the sports’ desire to create more unpredictable racing by providing challenging tire compounds.
However the fragile nature of this year’s tires provoked complaints from some teams. At Silverstone several drivers suffered high-speed tire failures, leading Pirelli to redesign this year’s constructions and supply more conservative rubber.
With a major change in the technical rules arriving next year, teams are understood to prefer sticking with a known quantity in terms of tire supplier. Michelin also had problems during their last tenure in F1, with all the users of they tires having to withdraw from the 2005 United States Grand Prix on safety grounds, leaving just six runners on Bridgestone tires to participate.