Pirelli have made it clear that they will not participate in a bidding war to supply tyres to Formula 1.
Pirelli have been the sport’s sole supplier since 2010 when they took over from Bridgestone, however, their current contract expires at the end of next season.
The Italian tyre manufacturer is keen to remain F1’s supplier but insist it won’t come at “any cost”.
Executive vice chairman and chief executive officer Marco Tronchetti recently told Pirelli’s shareholders that he does not believe the company has to remain in Formula 1 to maintain their profile in motorsports.
He also wants similar commercial terms to the current deal.
A spokesperson told Motorsport.com: “Formula 1 is a good match for us and we are happy and honoured to stay there.
“But if it comes down to a bidding war, we would not stay at any cost.”