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.

KTM - whose MotoGP team has a title partnership with Red Bull - has seen shareholding prices fall by 90% since February of 2022, with its current financial woes leading it to take drastic meaꦡsures.

The Austrian company has already slashed its board of directors down from six to two, while up to 300 stafඣf layoffs are incom⛎ing on top of the job cuts that have already been made.

KTM is also set to pause product🔴ion in the first two months o𒁏f 2025 as it looks to find around €100 million.

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 h♔ad already taken place.

But the Pierer Mobiওlity Group have denied this in a statement, saying: “In response to the news♑paper reports, Pierer Mobility makes it clear that there are no discussions about Mark Mateschitz joining Pierer Mobility and KTM.”

MotoGP project continues as normal

KTM has been insistent that its MotoGP project remains unaffected by the company’s🥂 financi♎al troubles.

This comes as its Husqvarna brand disappears from the Moto2 and Moto3 gri🅰d next year, while Tech3 will no long run GASGAS-badged KTMs.

Instead, Tech3 will revert to its team name from 2021 and 2022 w🥀hen it was know💦n as Tech3 KTM Factory Racing.

In an intervi▨ew with Salzburger Nachrichten, Pit Beirer sa♔id: “We will stay in all the series we are in.

“Whatever we do, we do with 100 per cent.

“𝔉But the focus is now entirely on orange [KTM]. In some series, we are currently represented with three times the effort.

“Our junio🧜r programme, which begins with the Rookies Cup, is also not at risk. Our partners and sponsors are supporting us in this difficult phase.”

“Motorsport and the compan🐟y's success over the lღast 20 years are directly linked.

“We are the company's best marketing tool. Th❀e company has had linear growth for oveꩲr 20 years.

“We won races and then s♓old motorcycles. That's the secret𝓡 of success.

“We are 'Ready to Race' and we do not enꦍgage ♛in motorsport as an end in itself.

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

“We are part of the family and we have to stick together now.🃏 We also learned to fight in sport. We give the company everything we have and will get through this together.”

KTM has won seven grands prix in MotoGP since joining the class in 2017, thoug☂h the timeframe of eight years it had set from the beginning to be title challengers are now elapsed.

The brand finished second in the MotoGP constructors’ standings in 2024, though still hasn’t won a gran🌠d prix since 2022.

Next y🌌ear it will field Pedro Acosta and Brad Binder at its factory team, while Maverick V𓂃inales and Enea Bastianini join works-supported Tech3.