Pirelli rules out buying into Formula 1

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It has been suggested that Pirelli, F1's official tyre supplier, would be interested in acquiring a stake in the sport, but the Italian manufacturer says the rumor is wide of the mark.

Liberty Media has offered teams an opportunity in invest in the sport's parent company, The Formula One Group, but none have so far felt compelled to invest.

There has never been however any offer tabled by Liberty to F1's suppliers, something Pirelli CEO Marco Tronchetti Provera confirmed in Monaco.

"Nobody gave us anything and we did not ask," said the Italian executive.

"We are part of Formula 1 but it is not a financial investment. Our involvement remains on the technological and marketing side.

"So we see no need to enter with capital," he added.

"But we are committed to formula one, which is the most attractive motor sport in the world."

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Asked if Pirelli would welcome a 'tyre war', Tronchetti Provera said he would not fear going up against a competitor.

"We are ready to compete, because when we race against others, we usually win."

But the manager thinks Pirelli has delivered what F1 needed as the sport transitioned to the 2017 regulations featuring faster cars.

"If the drivers are happy, it is a sign that we have done a good job," he said.

"But we do not stop. In 2018 we want to give even more fun and entertainment."

The Italian said Pirelli is prepared to work closely with F1's new owners Liberty Media.

"Of course, we think we can bring it to higher levels, although I always keep a special relationship with Bernie (Ecclestone) because he is a friend."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.