Pirelli wants Formula 1 sole tyre supply deal for five more years 4 October, 2013 Bernie Ecclestone with Paul Hembery Pirelli plans to be Formula 1’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 has agreements with the 11 teams and commercial rights holder but Hembery said that the final contract with the FIA could take some time to complete. “Bear in mind that when we came into the sport [in 2011] it [the initial contract] wasn’t signed until February of the year in which we started racing. There are meetings still going on,” said the Briton. “Unfortunately. When you’ve got lots of different groups involved and lots of different lawyers there’s lots of details but the principles are all working.” (GMM.) Subbed by AJN. Reports on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Formula 1 teams, sponsors & organisations.