Kindasorta.
The larger the contact area, the greater the amount of grip. However for any given contact area, the higher the load the greater the amount of grip; and for any given pressure, the higher the load the larger the contact patch. This is why wings are used on racing cars.
The contact patch though is essentially determined by the amount of flexing in the sidewall.
Its probably worth noting here that grip consists of two components - lateral, or cornering, and longitudinal, or acceleration and braking. A tyres total grip is constant so the harder you are braking or accelerating the less grip is available for cornering.
The flexing of the sidewall will also affect the slip angle - that is the angle between the direction of rotation of the tyre and the direction of travel. Lateral grip will increase with slip angle up to a point, beyond which it then decreases. Increased sidewall flexing will mean this higher slip angle will be reached at a lower cornering force - ie lower speed or larger radius. This essentially means the tyre will reach its limit of adhesion at a lower speed.
Hope this makes sense, I may need to edit it in the morning.
Cheers,
Jon

