KTM denies Red Bull financial help incoming amid company struggles

The Pierer Mobility Group has issued a statement denying reports that Red Bull co-owner Mark Mateschitz could help KTM out of its financial crisis.

Salzburger Nachrichten, an Austrian newspaper, recently reported that Mark Mateschitz - son of late Red Bull co-founder Dietrich - could essentially bail out out KTM and that talks had already taken place. Instead, Tech3 will revert to its team name from 2021 and 2022 when it was known as Tech3 KTM Factory Racing.

“We are now in a very difficult phase and we, as the motorsport department, will do our part to stabilise the company.

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