FIA invite tenders for single tyre supplier 22 May 2006
Formula One racings governing body, the FIA, has opened the tender process for a single tyre supplier to the championship in 2008, 2009 and 2010. Tender bids must be submitted by the deadline of June 23, 2006.
There are currently two suppliers involved in the sport - Bridgestone and Michelin - with the latter having already announced their withdrawal at the end of this season. This is likely to mean all teams running on Bridgestone rubber next year, ahead of the official move to single supplier in 2008.
That move is part of the FIAs plans to cut the costs of competing in Formula One racing. It should also help to curb cornering speeds by eliminating the competition between tyre suppliers.