MONACO (May 6, 2004) — Formula One racing's governing body plans to invite tire makers to compete to be the exclusive supplier for the championship starting in 2006, according to reports.
Max Mosley, president of the International Automobile Federation (FIA), said team bosses agreed with many proposed regulation changes during a meeting May 4 in Monaco, according to a transcript of the news conference.
“There was complete agreement for the need of a single tire supplier,” he said.
By having one tire supplier, Mr. Mosley expects Formula One to see lower costs, more equality among teams and increased safety.
“We will issue an invitation to tender to every significant tire manufacturer worldwide, and we'll then take the best offer,” he said, according to a Reuters report.
Bridgestone Corp. and Group Michelin are the current tire suppliers to F1.