According to Italian media sources, Pirelli is said to be Formula 1’s next sole tyre supplier when Bridgestone leaves the sport at the end of this season. The Italian tyremaker will be getting 1 million euros from every team, every season for the 2011, 2012 and 2013 seasons. Pirelli will in turn provide identical attention and service to all and a range of three compounds: soft, medium and hard.

Lately, there has been talk about F1 moving up to 18-inch wheels, but Pirelli will initially supply 13-inch rubber, like those being used now, eventually moving on to a lower profile tyre setup.

If this news is true, Pirelli would have beat Michelin to the job, besides Avon Cooper, Kumho and Hankook. Pirelli last supplied F1 tyres back in 1991, but lately got contracts for the GP3 series and the World Rally Championship. Some Spanish sources mention that Pirelli will also be in charge of GP2 rubber next year. The F1 decision is set to be confirmed shortly by the World Motor Sport Council. Stay tuned.