- Tyre news
Pirelli hopes for five more years beyond 2013
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Pirelli motorsport director Paul Hembery has confirmed that the tyre manufacturer is hoping to stay in Formula One for "8-10 years".
Rapidly degrading Pirelli tyres have been central to races since it become the sport's sole tyre supplier at the start of the 2011 season. The current contract runs out at the end of next season, but speaking exclusively to ESPN, when asked if the board was happy to continue within the sport, Hembery replied: "Yeah.
"It's not at any cost and every cost because we're a business and there's parts of the world that are really struggling at the moment and are still struggling. 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 and we haven't changed from that. But equally if factors outside our control change then that can change their viewpoint as well."
With the first contract having been for three years, Hembery said he expected another two deals of similar length to be Pirelli's target.
"I think most people would think you need to do 8-10 years really in a sport to be able to activate your involvement in an activity right down to the point of sale, which is what everybody wants to do of course if they're involved in any form - 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."