ausauto News Article

Bridgestone gives F1 the flick and nobody seems to care

Bridgestone Corp. will leave Formula One racing after the 2010 season. And it appears nobody cares, according to Bob Ulrich's latest blog. Bob is editor of America's leading tyre industry magazine Modern Tire Dealer.

The announcement was made on Monday, Nov. 2. In its release, Bridgestone said it needed to "redirect its resources" (i.e., millions of dollars) because it had achieved its Formula One goals: increasing brand awareness and developing innovative technologies.

The Akron Beacon Journal ran a small item on the news-and that's pretty much the extent of what I read before putting this blog together. No great outcry by the F1 teams, no forum back-and-forths from the fans.

Even the FIA (Federation Internationale de l'Automobile), the governing body of F1, buried its own release on its Web site). The lead was pretty unemotional: "Formula One racing is set to use a new tyre supplier from 2011 after Bridgestone announced on Monday that they will not be renewing their current contract when it expires at the end of 2010."

I caught up with Bridgestone's Christine Karbowiak at the SEMA (Specialty Equipment Market Association) Show in Las Vegas this week and asked her about it. She is executive vice president, community and corporate relations for Bridgestone Americas Inc.

"You have to continually evaluate all your investments to determine, in fact, if they are the right investments at the right time," she said.

The company's involvement in F1 Racing (it will be 14 years after 2010) led to greater brand awareness (especially in Europe), original equipment fitments (Aston Martin, etc.) and tire design and manufacturing advancements.

"It was a good partnership," she said.

"But it's time to move to the next level."

A short and semi-sweet response. And the operative term is "was."

"Will you be pulling out of the IRL (Indy Racing League)?" I asked. No, she said. Bridgestone Americas has a great relationship with the IRL.

I asked independent tire dealers and tire manufacturers about it on the trade show floor in the Tires, Wheels & Accessories section (that's where the Modern Tire Dealer booth was located).

Some had heard the news, others hadn't. None of them seemed to think it was an extraordinary announcement.

Who will replace Bridgestone on F1 race cars?

The FIA wants a spec tire, which leaves the Michelin brand out. Goodyear Tire & Rubber Co. pulled out once and probably is not in a financial position to re-up.

How about Pirelli & Cie SpA? (See "Pirelli to rebalance motorsports involvement?")

Maybe Kumho Tire Co. Inc. will be the next supplier. In 2004, the company announced it wanted to develop an F1-ready tire within three years. Although it doesn't seem likely, Avon Tyres might be in the running; after all, it is the sole supplier to Formula Two.

Does anyone care?