Pirelli hopes for '8-10 years' in Formula 1
2 December 2012 – Tyre manufacturer Pirelli has confirmed its intention to remain in Formula 1 for "8-10 years". Talking to ESPN, Pirelli Motorsport Director Paul Hembery said the company’s board are happy to continue after the expiration of the current deal at the end of 2013.
"We're a technical sponsor, it's not just sponsoring for us - but it would probably take a medium term agreement to allow you to really maximise the return on your investment."
The first deal with Formula 1 lasted for three seasons, and Pirelli man Hembery expects two more agreements of similar length to be the brand’s target.
"But in terms of the concept, if all the conditions remain viable we'd like to continue for the medium term which is what we've really always said. But equally, if factors outside our control change then that can change their viewpoint as well."
The Italian tyres have been a crucial factor in races since Pirelli became F1’s sole tyre supplier in 2011. The spectacularly unpredictable start of the 2012 season - which saw seven different winners from seven races - was partly attributed to the rapidly-degrading and the teams’ failure to initially understand their best working conditions.