LONDON (REUTERS) - Pirelli can continue as Formula One's sole tyre supplier next season, the sport's governing body said on Friday.
The International Automobile Federation (FIA) said the 2013 Concorde Agreement governing the sport, which is yet to be signed by all parties, would make it the body in charge of conducting any tender process in future.
"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 (FIA's world motor sport council) today confirmed that Pirelli may continue to supply tyres to competitors in the FIA F1 World Championship," it said in a statement.
It added that this was "subject to the requisite technical and safety standards of the FIA being met."
Pirelli's current contract expires at the end of the season, with their tyres coming in for heavy criticism earlier in the year when drivers suffered a spate of blowouts.
The Italian company has already agreed contracts with all the 11 teams and the commercial rights holder.