ERJ staff report (BC)
Manama, Bahrain – Exclusive Formula One tire supplier Pirelli has warned that time is running out on a new contract if they were to stay in the sport beyond the end of the 2013 season, reports Alan Baldwin of Reuters.
"Time is of the essence, I would suggest," motorsport director Paul Hembery is said to have told reporters at the Bahrain Grand Prix.
Hembery had tried to avoid setting a deadline for a deal, so as not to create unnecessary tension, but Pirelli cannot go forever without a deal.
F1 head Bernie Ecclestone is quoted as telling reporters that, for his part, a deal was signed but it also has to be agreed by the teams and the Paris-based governing International Automobile Federation (FIA).
Pirelli returned to the sport as sole tire supplier in 2011 following an FIA tender for a three-year period. In theory, the contract should again go out to bid, although Hembery suggested the world body could simply ratify an extension.
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