"Black Friday" For KTM and MotoGP
KTM Court Administer: 30% Payment of Invoices, Complete Pull Out of MotoGP, Moto2 and Moto3
by Superbikeplanet Staff
Friday, December 20, 2024
On December 20, 2024, the administrator of KTM's financial future held the first creditors' meeting and report hearing for the insolvency proceedings of KTM AG. The court-appointed insolvency administrator reported that the company is unable to meet its financial obligations, with liabilities estimated at approximately €2.7 billion, affecting around 1,600 creditors and 2,380 employees.
KTM AG has proposed a reorganization plan offering creditors a 30% repayment of their claims within two years. The admin is currently assessing the feasibility of this plan and considering whether the proposed repayment can be improved.
None too surprisingly the administrator recommends that KTM pull out of MotoGP, Moto2 and Moto3 ("is planned") but there is no official timetable for pull-out. Presumably it means with immediate effect.
The admin has ordered a "Clearance sale at retailers" which could mean there will be some great deals on KTM motorcycles but at the same time it's possible that a giant fire-sale will kill the resale of KTM motorcycles already in the hands of KTM owners.
KTM AG has proposed a reorganization plan offering creditors a 30% repayment of their claims within two years. The admin is currently assessing the feasibility of this plan and considering whether the proposed repayment can be improved.
None too surprisingly the administrator recommends that KTM pull out of MotoGP, Moto2 and Moto3 ("is planned") but there is no official timetable for pull-out. Presumably it means with immediate effect.
The admin has ordered a "Clearance sale at retailers" which could mean there will be some great deals on KTM motorcycles but at the same time it's possible that a giant fire-sale will kill the resale of KTM motorcycles already in the hands of KTM owners.
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