Formula One: Pirelli want to stay on in F1 for next 5 years
YEONGAM, SOUTH KOREA (REUTERS) - Pirelli plan to be Formula One's sole tyre supplier for the next five years but a new contract with the governing FIA has yet to be signed, the Italian company's motorsport director Paul Hembery said on Friday.
The International Automobile Federation said last week that Pirelli, whose existing contract expires at the end of the season, could continue through a "transition period" before any eventual tender.
It gave no time period but Hembery told reporters at the Korean Grand Prix that "we are working on five years".
Pirelli have agreements with the 11 teams and commercial rights holder but Hembery said the final contract with the FIA could take some time to complete.