"The Dude abides .. "
Michelin is to take over as MotoGP's Official Tyre Supplier from 2016.
The French manufacturer will thus return to MotoGP for the first time since 2008, the final season of open tyre competition.
Current exclusive tyre supplier Bridgestone recently announced that it would cease its role at the end of next year, prompting Dorna to open a tender for those interested in taking over.
"Interested tyre manufacturers were able to request the technical specifications from Dorna's Managing Director Javier Alonso, with three potential tyre suppliers initially expressing an interest – before Michelin alone made a formal tender before the 22nd May deadline," declared a Dorna statement.
"The next step in the process will be the drawing out of a commercial agreement between Dorna and Michelin as Official Tyre Supplier, Michelin having already clearly proven its technical abilities to respond to the needs of a demanding Grand Prix racing schedule."
Michelin won 26 500cc/MotoGP titles from 1976-2006 but then suffered a rapid decline in the face of growing Bridgestone opposition.
The Japanese manufacturer - which entered MotoGP in 2002 and won its first races in 2004 - took a debut MotoGP title with Ducati's Casey Stoner in 2007, repeating the feat with Yamaha's Valentino Rossi in 2008.
By that time only six riders remained with Michelin - Repsol Honda's Dani Pedrosa even negotiating a move to Bridgestone mid-way through the season.
The single tyre era began with Bridgestone the following year, with Michelin having elected not to submit a bid.
"The MotoGP Championship organisers have decided to use a single tyre supplier for the coming seasons, which effectively eliminates the competitive environment that has led to so much progress," a Michelin statement explained at the time.
Despite its previous stance, Michelin soon became favourite to take over the 2016 tyre supply once Bridgestone's departure was announced.