Pirelli confident of extending contract for next five years

Formula One tyre provider Pirelli is confident it will continue in that role for the next five years despite not having a contract with the series' governing body, which is asserting its right to decide which company has the monopoly contract.

The FIA said last week that it alone would have the right from 2015 to decide the tyre provider, despite Pirelli having ongoing deals with F1's commercial rights holder, run by Bernie Ecclestone, and the 11 teams.

Pirelli chief Paul Hembery remained confident of remaining the provider despite having no FIA contract, saying on Friday "there's lots of details but the principles are all working" and that "there might be more anxiety from the other people's point of view because we could walk away."