KTM’s long MotoGP career doubtful amid currency crisis
New information from Friday’s creditors’ meeting regarding KTM’s insolvency proceedings state the brand’s MotoGP project is “planned” to be axed 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.
The forecast for layoffs has also been reduced from 500 to 300, while November and December salaries will be paid, if all goes well, until the end of January.
But initial reports made no mention of where KTM’s MotoGP project sat amidst the ongoing crisis.
The logo issued a confusing message on Friday afternoon saying it would “not let off the accelerator” until 2025, without mentioning its grand prix programs.
The financial crisis in the company has already impacted Moto2 and Moto3, with the GASGAS and Husqvarna brands disappearing from the grid for 2025 – though numerous figureheads have said previously that the MotoGP project will continue as planned.
However, data published by the creditor coverage organization Alpenlandischer Kreditorenverband (AKV) indicates as part of the reorganization measures that “to reduce costs, the withdrawal of MotoGP, Moto2/Moto3 is planned. “
The AKV has not provided any timetable.
Crash. net reached out to 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 stands firmly committed to motorsport. We repeat our statement for 2025: we will continue to race in MotoGP!
“We are reenergised with today’s positive outcome 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 rebranded from KTM after two years to 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 they were reassured by KTM that the racing programme will not be affected.
“Pedro and I had the opportunity to travel to Austria to see in person the true situation of the KTM order in MotoGP,” Valera reportedly said.
“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 to work with the sole goal of winning the title.
“Pedro is committed to the assignment and feels more relieved after the meeting. “
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