Pirelli to Make Bid to Supply Formula One

Tire maker Pirelli has officially released its decision to present a technical and commercial offer for supply of tires to all the teams in the Formula One world championship.

The company plans to present the bid to FIA (Federation Internationale de l’Automobile) and FOA (Formula One Administration Limited) by 9 May, the date of the next Formula One Gran Prix to be held in Spain.

Bridgestone is currently the exclusive suppler of tires to Formula One, but has stated that it will not be seeking to extend the contract beyond the end of the 2010 season.

Pirelli has had a long history in Formula One, but exited the sport following the 1991 season.