The latest contract, which also covers the supply of F2 and F3, includes an option from the FIA and F1 side for a fourth season in 2028.
The tender process began in March, with the two contenders then supplying detailed technical dossiers to the FIA that outlined their plans.
Both companies gained approval from the governing body, and the next stage was to find a commercial agreement with F1.
Bridgestone is known to have made a substantial financial offer, but in the end, F1 CEO Stefano Domenicali and Liberty Media decided to stick with the known quantity of Pirelli.
The choice was recently rubber-stamped by the World Motor Sport Council, as reported by Motorsport.com last week.
The announcement comes just a few days after the FIA had to mandate a maximum of 18-lap stints in the Qatar GP due to tyre issues, as Pirelli identified a microscopic separation in the sidewall between the topping compound and the carcass cords.
The FIA noted that “the targets set out during the tender were agreed through consultation with the Commercial Rights Holders and the teams, and are designed to ensure a wide working range, minimise overheating, and have low degradation whilst also creating the possibility for variation in strategy.”
This time around, the process was made more complicated by F2 and F3 being wrapped into a single package, and by the requirement for the contenders to meet tough sustainability targets as F1 heads towards its Net Zero 2030 goal.
As a result, from 2024 all Pirelli F1 tyres will be certified by the Forest Stewardship Council.
Pirelli notes that FSC backing “ensures full traceability of forest-based materials along the supply chain and confirms that the plantations of the forest-based components of the tyres are managed in a way that preserves biological diversity and brings benefits to the lives of local communities and workers, while fostering economic sustainability.”
Max Verstappen, Red Bull Racing leads at the start
Photo by: Red Bull Content Pool
If Pirelli is awarded the extra option season in 2028, the Italian company will have been F1’s sole supplier for 18 seasons.
It’s previously been made clear that this contract will probably be its last, although that wasn’t addressed in its official statement today.
Domenicali noted: “Since returning to the sport in 2011 Pirelli has been an invaluable partner, Supporting F1 through new generations of technology and technical regulations and delivering tyres to enable fantastic racing for our fans.
“The company’s commitment to quality, innovation and their deep knowledge of our sport will be vital in the coming years as we approach our new regulations in 2026 and the work Pirelli is focused on relating to sustainability, proven by the FSC certification, will ensure we continue to work together towards our shared Net Zero 2030 goal.”
FIA president Mohammed Ben Sulayem also stressed the role of sustainability in the decision.
“Pirelli has been operating at the top level of motor sport for many years and I am sure that they will continue to deliver innovation and excellence on the world stage,” he said.
“F1 is a unique challenge for the tyre supplier, and Pirelli has demonstrated great commitment to producing tyres that meet the extreme demands of these incredible cars.
“Work will continue in the coming years to take further strides both in terms of performance and sustainability, and Pirelli have made strong commitments to both of these targets.”
Stefano Domenicali, CEO, Formula 1, Mohammed bin Sulayem, President, FIA, on the grid
Photo by: Mark Sutton / Motorsport Images
Pirelli executive vice-president Marco Tronchetti Provera made it clear that the company is still enjoying good returns from its ongoing involvement in the sport.
“Thanks to the impetus from Liberty Media and the support of the FIA, the sport is enjoying an extraordinary period of growth both in terms of audience and global expansion, increasing its following among younger generations as well,” he said.
“Innovation and technology are locked into Pirelli’s DNA, and F1 constitutes the ultimate open air laboratory to not only try out and test new technical solutions, but also to accelerate fresh research, development, and production processes in making tyres.
“Our commitment to sustainability is equally strong, as proved by the FSC certification that will be introduced to our F1 tyres from next year.
“Being at the forefront of motorsport’s pinnacle until at least 2027 adds another important value dimension to our company.”