Pirelli has confirmed that it is willing to supply tyres for F1 from next season, but, like Michelin, certain conditions would have to be met.

The teams, in conjunction with Bernie Ecclestone, are currently looking at two suppliers, Michelin and Avon. However, in the wake of recent media speculation, Pirelli has officially admitted that it too is willing to supply tyres for the Formula One World Championship.

"Pirelli announces that it will present an offer for the supply of tyres to all the teams in the F1 championship," read a brief statement issued this afternoon. "The presentation of the offer will take place before the next Grand Prix in Spain on May 9."

When pushed for additional information, a spokeswoman for the Italian manufacturer said the offer was for next season but said no further details could be disclosed.

Last week, the Italian media revealed Pirelli's interest in returning to the sport - having withdrawn in 1991 - but claimed that certain conditions would need to be met. It is understood that these would include increasing the size of tyres to 18 inches (from 13) and for teams to contribute financially.

Michelin admits that it too would be seeking to increase the wheel diameter to 18 inches, a move which would see larger wheels with lower profile tyres which would change the handling and suspension characteristics of the cars dramatically. Such a move would not be popular with the teams who would be forced to significantly redesign their suspension layouts.

F1 supremo Bernie Ecclestone is said to be in favour of Avon who would supply a (cheaper) non-branded tyre which would also conform with the current wheel and tyre diameters.