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 The governing International Automobile Federation (FIA) said on
Wednesday that the two had met the requirements to become approved
bidders and had been submitted to the sport's commercial rights
holder.
Ecclestone, the commercial supremo who represents controlling
shareholders CVC, will conduct negotiations with both and make a
decision for the FIA's World Motor Sport Council to approve.
The FIA body's next scheduled meeting is on Sept. 30 in Paris.
Michelin withdrew from Formula One in 2006, a year after a farcical
U.S. Grand Prix that went ahead with only six cars after all the
Michelin-equipped teams pulled out on safety grounds.
The sport has had a sole supplier since then, with Bridgestone
replaced by Pirelli in 2011.
Ecclestone indicated earlier in the year that he favored retaining
Pirelli, who also invest heavily in trackside advertising.
"All Michelin would do is make a rock-hard tire that you could put
on in January and take off in December because they don't want to be
in a position where they can be criticized," the 84-year-old Briton
said in May.
Whereas the Pirelli F1 compounds have been engineered to degrade, in
a move aimed at increasing strategy options and encouraging
overtaking, Michelin have said they are not prepared to make a tire
that did not last.
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Michelin motorsport head Pascal Couasnon told Reuters last month
that the French company also had no interest in supplying tires to
Formula One unless the sport agreed to change the specification from
13 inch to at least 18 inch.
The current FIA tender document opens the way for an increase in
diameter "if the tire manufacturer feels there may be advantages to
the competitors by doing so."
Formula One is in Hungary this weekend for the 10th race of the
season.
(Reporting by Alan Baldwin, editing by Pritha Sarkar)
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