Bernie Ecclestone says he wants Pirelli to remain the official tyre supplier in F1.
It is believed Hankook, a South Korean tyre manufacturer, has responded to the FIA’s tender about taking over from Pirelli in 2020.
Pirelli is also in the running, and former F1 supremo Ecclestone - who was in charge when the Italian company entered the sport in 2011 - hopes it secures another contract.
"Pirelli should stay," the Briton said at Sochi.
"It took them a long time to reach the level they are at now. The first three years were very difficult for them," Ecclestone added.
"Anyone who comes in after them will have the same difficulties, so I think for formula one it will be better if Pirelli continues. I personally hope they do," he said.