Date: 30th September 2013 at 10:10am
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Italian tyre manufacturer Pirelli have been confirmed as Formula One’s official tyre supplier for 2014.

The news had been heavily anticipated for several months, as Pirelli have previously held an agreement with Formula One and the majority of the teams for next year, but had been forced to wait for the news to be officially ratified by the FIA.

For seemingly unknown reasons, this process has dragged on for several months, leading to some rumours about whether or not Pirelli would be staying with a sensational switch to Michelin muted.

The French tyre manufacturer were quick to use the situation to gain some publicity, but it’s unclear just how serious they would have been about returning to the sport.

Reports suggest that the deal could run for as long as five-years, whilst the official tendering process will be altered in future for when the sport are searching for suppliers with the process run by the FIA.

‘In this new process, the FIA will be confirmed as the body in charge of conducting the tender process.

‘The commercial rights holder will be entitled to run the commercial negotiations with potential suppliers, with a view to the selected single supplier being officially appointed by the WMSC [World Motor Sport Council].

‘In order to cover the transition period and considering the contracts already settled by FOM [Formula One Management] and the teams with Pirelli, the WMSC has confirmed that Pirelli may continue to supply tyres to competitors in the FIA F1 world championship, subject to the requisite technical and safety standards of the FIA being met.’
a statement from the FIA released on Friday at the World Motor Sport Council meeting.