KTM’s MotoGP future uncertain amidst financial crisis
New data from Friday’s creditors’ meeting related to KTM’s insolvency proceedings indicate that the transfer 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 payment to KTM as the company seeks to restructure through self-management against a backdrop of at least €1. 8 billion of 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 early reports did not indicate where KTM’s MotoGP task stands amid the current crisis.
The logo issued a confusing message Friday afternoon saying it would “not let go of the throttle” until 2025, without mentioning its grand prix programs.
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, data published by the creditor coverage organisation Alpenlandischer Kreditorenverband (AKV) indicates as part of the reorganisation measures that “in order to reduce costs, the withdrawal of MotoGP, Moto2/Moto3 is planned”.
The AKV has not provided any schedule.
Crash.net has reached out to KTM for official comment, with the brand responding:
“Today is a day for KTM with the verification of our restructuring procedures. This step ensures the progression of our plan and we are proud to see that motor sport remains an integral component of this restructuring plan.
“KTM is firmly committed to motorsport. We reiterate our commitment for 2025: we will continue to compete 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 the name from KTM after two years to GASGAS, with Maverick Viñales and Enea Bastianini as riders.
KTM also 16 motorcycles 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 to Austria to see in user the genuine scenario of the KTM assignment in MotoGP,” Valera was quoted as saying.
“Despite the situation the company is going through, emotions are positive.
“We have been told at all times that racing is the essence of KTM, that they will continue to work with the sole objective of winning the title.
“Pedro is committed to the assignment and feels more relieved after the meeting. ”
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