Pirelli beats Michelin to 2017 F1 deal

Sochi, Russia - Incumbent Pirelli has won the race to be F1's tyre supplier beyond 2016.

While an official announcement is yet to be made, Bernie Ecclestone appeared at the Sochi circuit on Sunday ahead of the Russian grand prix with Pirelli CEO Marco Tronchetti Provera.

On the grid, the F1 supremo shook hands with the Italian businessman and declared that a deal is done for the 2017, 2018 and 2019 seasons.

Pirelli had been in competition with French tyre manufacturer Michelin for the contract.

Provera told Italian broadcaster Sky:"We are going ahead, we are doing good work, our products are exceptional and appreciated by all."