The FIA opened up the tyre tender contract for the sport recently and invited companies to apply for the 2017, 2018 and 2019 contract.

Speaking to Motorsport.com today, Couasnon said a decision by Michelin is expected over the next few days.

"We are giving ourselves a few days to decide but as we stand now it is at least 50/50," Couasnon told Motorsport.com.

"We have our ideas and we have talked about these ideas and we want to give the possibility to the teams to apply them well, so I would say that in the next few days we will finally decide and next week we will know what is happening."

Michelin has already indicated it will not supply a 13-inch F1 tyre and is believed to back free compound choice and larger product diameters.

"It is clear that Michelin is open and willing to discuss things like this (the current diameter tyre) but we believe it would not make sense in respecting the tire so it will be extremely difficult for us," concluded Couasnon.

Tyre makers have until June 17 to lodge their applications and Motorsport.com understands that a formal internal decision from Michelin will be decided on Monday.