Pirelli agree multi-year deal

Have Italian tyre manufacturer Pirelli finally agreed a new long-term deal to be Formula One’s official tyre supplier?

Pirelli have been left in limbo in recent months, stuck in the position that they had agreed deals with Formula One Management and various individual contracts with the teams, but had no official agreement with the FIA.

Whilst that meant that it looked increasingly likely that Pirelli would remain as Formula One’s Official tyre supplier for 2014 and beyond it still left a niggling doubt.

According to the The Daily Telegraph Pirelli have now agreed a new five-year contract with Formula One with the deal ‘worth an estimated £50 million, which will carry it through until the end of the 2018 season’.

FIA president Jean Todt will now push through the new agreement, ending the speculation regarding Pirelli and former Formula One tyre manufacturer Michelin.

Meanwhile it was also confirmed in Monza that Red Bull Racing would be completing a Pirelli tyre test at Barcelona this week.

Unlike the illegal Mercedes test, Red Bull will be using an old car to test various compounds and evaluate them ahead of the 2014 season.