Pirelli is set to remain the official tyre supplier of Formula 1 after inking an extension on its current deal.

The Italian brand will remain in the sport until at least the end of 2024, a one-year contract extension.

The most recent tyre tender from the FIA and Formula 1 back in 2018 was for the supply of a 13-inch tyre during the 2020 season, followed by three consecutive seasons of 18-inch tyres from 2021 to 2023 inclusive.

The COVID-19 pandemic last season forced the postponement of planned new technical regulations, which included the 18-inch tyres, from 2021 to 2022.

As a result, 13-inch tyres will be used again during the 2021 season, with a move to 18-inch tyres delayed until next year.

“We’re obviously pleased to have reached this agreement that will extend our presence at the pinnacle of world motorsport until 2024,” said Mario Tronchetti Provera, Pirelli executive vice chairman and chief executive officer.

“Pirelli has been alongside Formula 1 for more than 70 years, since the very first race in 1950, and the company continues to invest in the highest technological levels of research and development, as shown by the introduction of 18-inch tyres from next year.”

Formula 1 chief executive officer, Stefano Domenicali, added: “The pandemic caused disruption across the world and Formula 1 was not immune from that.

“We therefore took the necessary measures last year to defer the regulations by one year to 2022.

“We are very proud of our partnership with Pirelli and grateful to them for their constructive approach to this timing change.

“Pirelli are very conscious of [the] strategic role that the tyres have in F1 and we know that they are working very hard to make sure that their products will represent the best balance between performance and durability in the new technical context.

“We look forward to the start of the 2021 season and we are all excited for the new cars and new 18-inch tyres to hit the track under the new regulations in 2022.”

Pirelli re-entered the sport in 2011, taking over the Bridgestone as the sole tyre supplier. Prior to that, F1 had experienced a tyre war between Bridgestone and Michelin from 2001 to 2006.