KTM’s MotoGP future uncertain amidst financial crisis
New data from Friday’s creditors’ meeting related to KTM’s insolvency proceedings indicates that the sale of the brand in MotoGP is expected to be “planned” to reduce costs.
Reports on Friday morning emerged that KTM was being allowed to continue in its current form following a first creditors’ hearing at the Regional Court in Austria.
Investors have expressed interest in a €700 million payout to help KTM, as it looks to restructure in self-administration on the backdrop of at least €1.8 billion in debt.
Forecasts for layoffs have also been reduced from 500 to 300, while salaries for November and December will be paid – if all goes well – until the end of January.
But early reports did not mention the position of KTM’s MotoGP assignment amid the crisis.
The Lopass issued an incomprehensible message on Friday afternoon stating that it “won’t let go of the throttle” until 2025, without mentioning its grand prix calendars.
The company’s financial crisis has already affected Moto2 and Moto3, with the GASGAS and Husqvarna brands disappearing from the grid by 2025, although many figures have already stated that the MotoGP project will continue as planned.
However, information released by creditor protection organisation Alpenlandischer Kreditorenverband (AKV), stated under reorganisation measures that “in order to reduce costs, the withdrawal from MotoGP, Moto2/Moto3 is planned”.
The AKV has not provided any timetable.
Crash. net contacted KTM for an official comment and the logo responded:
“Today is a day for KTM with the verification of our restructuring procedures. This step ensures the progress of our plan and we are proud to see that motorsport remains an integral component of this restructuring plan.
“KTM is firmly committed to motorsport. We reiterate our commitment for 2025: we will continue racing in MotoGP!
“We are reinvigorated with today’s final results and thank you for your support. “
KTM is expected to form two groups in MotoGP next year: its factory team led by Brad Binder and Pedro Acosta, and Tech3, which changed its name to KTM after two years as GASGAS, with Maverick Viñales and Enea Bastianini as riders.
KTM also supplies 16 bikes to the Moto3 grid.
Earlier this week, Acosta’s manager Albert Valera told motorsport. com that KTM had assured him that the racing program would be affected.
“Pedro and I had the opportunity to travel to Austria to see in person the true situation of the KTM project in MotoGP,” said Valera.
“Despite the situation the company is going through, emotions are positive.
“They told us that racing was the essence of KTM, that they would continue working with the sole objective of winning the title.
“Pedro is committed to the project and feels more relieved and confident after the meeting.”
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