18/06/2010
NEWS STORY
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The bid to become F1's tyre supplier in 2011 seems to be reaching a turning point according to Pitpass' business editor Chris Sylt.
Last week Michelin bought the latest edition of Sylt's Formula Money report, an all-in-one guide to the finances of F1 which sells for the none-too insignificant sum of £175 indicating that the French tyre manufacturer's purchase was not for bedtime reading. However, this doesn't mean to say that a deal is done.
An interview in French newspaper L'Equipe quotes Michelin managing partner Didier Miraton saying "the development time for 2011 seems very compromised now. It is probably too late for the deadlines of next year…We have intervened to help, modestly, but at the rate things are going, I'm pessimistic."
This would leave Pirelli as the front runner and, in line with this, Red Bull Racing boss Christian Horner has been quoted as saying "the Pirelli deal that seems to be on the table looks to be commercially and practically very attractive, and that seems to be the consensus of the majority of teams." With development on the 2011 cars already going ahead time is already running out for the new deal to be signed.