Michelin Exits, Bridgestone becomes Official Tire Supplier to the FIA F1 Championships

Michelin rules itself out of F1 racing.

The FIA, the governing body of F1 racing, has announced that tire manufacturer Bridgestone has been selected as the official tire supplier to the FIA Formula One World Championship in 2008, 2009 and 2010.

That is after Michelin ruled itself out of F1 at the start of the 2007 F1 season.The FIA decided to select a single tire manufacturer which would supply all Formula One teams from 2008.

A tender process was opened and the deadline for bids was June 23 2006.

There are currently two manufacturers involved in the sport, Michelin and Bridgestone. However Michelin, which currently supplies six of the eleven teams, ruled itself out of the bidding process in June.

The French tire manufacturer had already withdrawn from the 2007 season and confirmed in a statement released before the Canadian Grand Prix, that they had no plans to return to Formula One racing after the new single-tire regulations had come into effect in 2008.

The move is part of the FIA's plans to cut the cost of competing in Formula One racing. It is also believed that by eliminating competition between tire suppliers the decision will help to curb cornering speeds.

Can Michelin-powered, Fernando Alonso still dominate with new Bridgestone tires? What will be Michelin's next step?

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