Bridgestone Confirms F1 Quit in 2010

Japanese tire manufacturer Bridgestone will terminate their supplier deal with FIA's Formula One Championship at the end of 2010, as announced in a press release earlier this morning. The famous tire manufacturer will complete their 3rd and last year of sole partnership with F1 next year and announced they will not bid for another contract from 2011 onwards.

“Bridgestone Corporation (Bridgestone) today announced that it will not enter into a new tire supply contract with the FIA Formula One World Championship (F1) series; the current contract is set to expire at the end of the 2010 season,” said the press release from the Japanese manufacturer.

“Bridgestone is committed to supporting F1 and the series’ teams through the completion of the 2010 season. The company also expressed its sincere appreciation and gratitude to the management of Formula One, the F1 teams and support staff, and the F1 fans around the world for their enthusiasm and support for Bridgestone over the last 13 years,” added the statement.

As for the reasons behind that decision, the press release shows that moving out of F1 and “redirecting its resources towards the further intensive development of those innovative technologies and strategic products which support the company’s goals and further enhance the company’s reputation as a technology leader” is Bridgestone's new focus.

Bridgestone has been in Formula One since 1997, when setting a well-known rivalry with Goodyear as joint suppliers of F1 racing. Later on, French tire manufacturer also entered the mix, but they decided to pull out of the sport at the end of 2006. The FIA then decided only one tire maker would have to be part of F1, and Bridgestone were the only ones to enter the bid.