Pirelli set to sign new deal
Pirelli motorsport director Paul Hembery has confirmed the tyre manufacturer is poised to commit to Formula One for the next five years.
Pirelli's future has been in the balance these past few months as despite signing new agreements with F1 supremo Bernie Ecclestone and all the teams, it has yet to strike a deal with the FIA.
There have been rumours that Michelin was to make a return to the sport, but the World Motor Sport Council announced last week that Pirelli may continue to supply tyres to the series, although contract terms were not revealed.
Speaking at the Korea International Circuit ahead of this weekend's grand prix, Hembery revealed the proposed term is for five years.
"The only reason why some of the comments were a bit vague is that it's fallen in between the two agreements between the FIA and FOM (Formula One Management)," Hembery said.
"So the role's changed slightly within that. We're in a transition phase, but we are working on five years."
With no contract signed there remains room for difficulties to occur.
Hembery said: "Bear in mind when we came into the sport (in 2011) it (the contract) wasn't signed until February of that year, so there are meetings still going on.
"Unfortunately, when you've got lots of different groups and lots of different lawyers involved there are lots of details, but the principles are all working."
Hembery insists there is no anxiety on Pirelli's part, adding: "There might be more anxiety from other people's point of view because we could walk away."