Pirelli are hoping to remain sole tyre supplier for at least another six years in order to maximise the commercial benefits of the deal, according to motosport director Paul Hembery.
The Italian supplier returned to the sport in 2011 and has been praised for its faster degrading and unpredictable tyres which have helped to spice up the action.
Their deal however was for only three-years, and whilst it’s almost certain they will be offered an extension, Hembery says it must come at the right cost and last for at least five more years on top of their current contract.
“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,” he told ESPN F1.
“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.”
Hembery hinted that a ‘medium term’ commitment would likely see them sign up for another five to seven years, giving them “8-10 years” in the sport.
“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.”
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