As expected, the Italian Pirelli tire company will supply all the Formula One teams with rubber from 2011-2013. The deal means they will provide six types of tire: four dry, one rain and one intermediate compound.
Pirelli, which has supplied tires exclusively to the FIA GP3 championship this year, will also supply the GP2 championship from 2011, becoming the sole provider of tires to the most prestigious single-seater championships in motorsport.
The Milan-based firm already provides spec tires to the World Rally Championship, World Superbike Championship, Motocross World Championship, Rolex Sports Car Series in North America and 70 other national and international championships for both cars and bikes.
Pirelli has a history of F1 involvement and the last Grand Prix victory claimed by the company was the 1991 Canadian Grand Prix, which Nelson Piquet won for Benetton.
The decision to accept the Pirelli bid was taken by the FIA (Federation Internationale de l'Automobile), the F1 teams, represented by FOTA (the Formula One Teams Association), and Formula One's organizing body, represented by FOM (Formula One Management). It was based on the specific proposal from the Italian company to guarantee technical and operational stability to the competitors.
The current economic climate has led to a realistic and collaborative approach with all the teams, ensuring manufacturing and logistical costs are shared fairly.
Pirelli's return to Formula One has an eye on the future, with research into innovative tire developments being a vital part of the program.