Formula One's governing body extended Pirelli's contract as sole tyre supplier by one year to 2024 on Friday to reflect disruption caused by the COVID-19 pandemic.

It said the extension was in the best interests of all stakeholders.

The most recent 2018 tender was for the supply of 13-inch tyres during the 2020 season and then three seasons of 18-inch tyres.

The pandemic triggered emergency measures and led to the postponement to 2022 of the 18-inch tyres, along with major rule changes.

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FIA president Jean Todt said the change of tyre size represented a significant technical challenge and investment for Pirelli.

"In light of this, and the necessary postponement of the new regulations as a result of the pandemic, it is only logical to extend the supply of tyres accordingly," he added.