After months of waiting, Pirelli have been given the go-ahead to supply the Formula One teams with tires for next season.
Earlier this week, Pirelli's motorsport director Paul Hembery revealed that there were just "a couple of little legal bits" holding up the announcement.
That finally came on Friday when the World Motor Sport Council confirmed that Pirelli will continue to supply tires in 2014, in what the FIA billed as a "transition period."
"One of the noteworthy aspects of the new 2013 Concorde Agreement is the new tender procedure for appointing single suppliers in the tire and fuel categories, for the FIA F1 World Championship," read the FIA statement.
"In this new process, the FIA will be confirmed as the body in charge of conducting the tender process. The Commercial Rights Holder will be entitled to run the commercial negotiations with potential suppliers, with a view to the selected single supplier being officially appointed by the WMSC.
"In order to cover the transition period and considering the contracts already settled by FOM and the Teams with Pirelli, the WMSC today confirmed that Pirelli may continue to supply tires to competitors in the FIA F1 World Championship, subject to the requisite technical and safety standards of the FIA being met."
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