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23rd
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The experts from British business publication, Formula One Black Book say that Pirelli is very close from inking a long-term contract to remain the official tire supplier to Formula 1.
Pirelli's tire supply contract with F1 expires at the end of the current season, but it is believed to be on the verge of an extension, reveal F1 Black Book's authors.
Former Formula 1 driver, Martin Brundle, commentating for Sky Sports on Saturday, reported a five-year extension was already in the bag.
Speaking on Friday, Briton Paul Hembery, Pirelli's motorsport director, wasn't giving much away but said if a deal is to be done it needs to be done very soon.
“As time passes, we have to make decisions as a business”, said Hembery.
“We're not immune to what's going on in the European automotive business in particular; sales were ten percent down in March in the overall market. That impacts heavily on us and we're currently having to make action plans to address those challenges. I would think that from our point of view, sooner rather than later - time is of the essence, I would suggest now”, Hembery added.
Pirelli's tire supply contract with F1 expires at the end of the current season, but it is believed to be on the verge of an extension, reveal F1 Black Book's authors.
Former Formula 1 driver, Martin Brundle, commentating for Sky Sports on Saturday, reported a five-year extension was already in the bag.
Speaking on Friday, Briton Paul Hembery, Pirelli's motorsport director, wasn't giving much away but said if a deal is to be done it needs to be done very soon.
“As time passes, we have to make decisions as a business”, said Hembery.
“We're not immune to what's going on in the European automotive business in particular; sales were ten percent down in March in the overall market. That impacts heavily on us and we're currently having to make action plans to address those challenges. I would think that from our point of view, sooner rather than later - time is of the essence, I would suggest now”, Hembery added.
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| Photo: Pirelli |