Two weeks ago, KTM AG initiated insolvency proceedings, revealing an enormous debt of around three billion euros, along with two subsidiaries. While the MotoGP program remains secure for now, the situation has raised concerns for Pedro Acosta.
The Spanish rider’s manager addressed the situation on the Por Orejas podcast by Motorsport.com: ‘The truth is, it wasn’t easy news to digest – first and foremost for the families who lost their jobs and the many KTM suppliers who will likely not be paid what they were expecting and surely also have families depending on them. That’s the most important thing today, the local economic impact this has caused’.
Although KTM has assured continuity in MotoGP, representative Albert Valera emphasized that the conditions have shifted significantly since mid-year when the contract was signed:
– Regarding the MotoGP project, fortunately – based on what we are told – it will continue, so there is no danger of not having a bike next year. What we ask is, under what conditions will we be competing next year? In May or June, we signed a contract for a winning project, with a company that had generated tens of millions of euros in profits the previous year and with a clear message that they were positioned to challenge the current dominant force, Ducati.
Acknowledging the current reality, Valera added: ‘That’s no longer the case today. Suddenly, everything has changed in six months, and obviously, we are all asking what happened. It’s something that worries us, and denying it would be absurd. I think we must acknowledge it and be honest. Naturally, it concerns Pedro, me, his family, and those around him. We’re asking ourselves what happened in these six months’.