Pirelli beats Michelin to 2017 F1 deal

Incumbent Pirelli has won the race to be F1’s tyre supplier beyond 2016.

While an official announcement is yet to be made, Bernie Ecclestone appeared at the Sochi circuit on Sunday ahead of the Russian grand prix with Pirelli CEO Marco Tronchetti Provera.

On the grid, the F1 supremo shook hands with the Italian businessman and declared that a deal is done for the 2017, 2018 and 2019 seasons.

Pirelli had been in competition with French tyre manufacturer Michelin for the contract.

"We are going ahead," Tronchetti Provera confirmed to Italian broadcaster Sky. "We are doing good work, our products are exceptional and appreciated by all."