As a result of the new deal that was given to them, Pirelli will keep supplying tyres to the Formula 1 racing series until at least the conclusion of the 2027 season.
According to the initial report by BBC Sport, the deal will take effect in the year 2025.
The Italian company has extended its reign as the sole tyre provider for Formula One for another 18 years after successfully fending off competition from the Japanese company Bridgestone.
As part of the new agreement, the Forest Stewardship Council will provide certification for all Formula One tires beginning in 2024 and going forward.
This ensures that all forest-based materials in the supply chain can be fully traced, and that tree plantations are managed in a way that protects the ecological diversity of the plants and animals that live there.
In addition to improving the quality of life for individuals and workers in the local community, the FSC certification program strives to promote long-term economic viability.
This puts the manufacturing of tyres into conformity with Formula One’s broader environmental and sustainability goals, as the sport has committed to reaching net-zero carbon emissions by the year 2030.
In the year 2026, there will be a new set of technical norms implemented together with the introduction of synthetic, sustainable e-fuels. These new engines will have a hybrid component that is far more extensive.
In a statement, the President of Formula One (F1), Stefano Domenicali, referred to Pirelli as a “invaluable partner” of Formula One.
In addition, he stated that: “Their dedication to quality and innovation, as well as their extensive knowledge of our sport, will be extremely useful in the coming years as we move closer and closer to implementing our new regulations in the year 2026.”
“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.”
Pirelli beat Bridgestone to the transaction, but it’s possible the company is still considering an eventual exit.
The fact that this sponsorship deal is likely to be Pirelli’s last one in Formula One is not mentioned in the company’s announcement, but sources close to the matter have revealed to BBC Sport that Domenicali has been briefed on the topic.
As part of the agreement, Formula One and its governing body, the FIA, will have the opportunity to extend their partnership for an additional year in 2028.
There was pressure on Domenicali from certain quarters to switch to Bridgestone, a company that is well renowned across the motorsport industry. However, he opted to continue with a known quantity as Formula One is heading into an age that will entail a shift in the rules.
As a result of the regulation change, Bridgestone, a company that participated in Formula One from 1998 through 2010, would have been required to develop two new kinds of tyres during the first two years of its contract. This was a significant consideration in the decision.
According to those with knowledge of the situation, Domenicali has had preliminary conversations with Bridgestone about the possibility of the latter company succeeding Pirelli in 2028. However, these talks have not yet reached a particularly advanced stage.