Formula 1: Pirelli (tyres) extends as exclusive supplier until 2024

The Italian tyre brand Pirelli has extended its role as Formula One's exclusive tyre supplier for an additional season, until 2024, announced the brand on 05/03/2021.

"The most recent tyre tender from the FIA and Formula 1 back in 2018 was for the supply of a 13-inch tyre during the 2020 season, followed by three consecutive seasons of 18-inch tyres from 2021 to 2023 inclusive," said the brand, an F1 supplier since 2011. Over the 2020-2023 cycle, Pirelli pays €11.3m per year to Formula One Group.

"The Covid-19 pandemic, which also disrupted the 2020 Formula 1 season, obliged the FIA and Formula 1 to implement emergency measures that included the cancellation of tyre development tests last year and the postponement of planned new technical regulations - which included 18-inch tyres - from 2021 to 2022. As a result, the current rules now state that 13-inch tyres will be used during the 2021 season, with a move to 18-inch tyres in 2022," explained Pirelli.

• The 2021 Formula 1 World Championship season begins with the Bahrain Grand Prix on the weekend of the 26/03/2021.

Formula 1…