Dorna Announce Financial Support Package For MotoGP Teams

Dorna has announced a financial support package for the Grand Prix teams. The independent MotoGP teams are to be given money for the months of April, May, and June, and payments are also to be made to the Moto2 and Moto3 teams.

Though no amounts are mentioned in the press release, Spanish daily AS.com is reporting that each of MotoGP's private teams - Petronas Yamaha, Red Bull KTM Tech3, Reale Avintia Ducati, Pramac Ducati, LCR Honda, and the Gresini Aprilia squad (still technically an independent team) - is to be given an amount of €250,000 per month for the three months of April, May, and June, with this amount to be paid whether any racing happens or not.

The Moto2 and Moto3 teams are also due to receive further support, beyond the €25,000 per rider they have been promised. Again, no details have been released, but given that without the teams, Dorna cannot organize a racing series, the amounts should be enough to at least guarantee their survival.

In the press release, Dorna emphasize that these payments were made with the support of the FIM and their investors, Bridgepoint Capital and CPPIB, the Canadian pension fund which holds a stake in Dorna. This should also not come as a surprise, as without the teams, Dorna cannot survive, and if Dorna does not survive, then its owners would have to write off an enormous investment and lose a lot of money.

So far, the announcements have only covered the Grand Prix paddock, and not World Superbikes. At some point, the WorldSBK teams will also need financial assistance to survive, though the sums involved should be far smaller. But at this point, no announcements have been made.

The press release from Dorna appears below:


COVID-19: financial support measures for teams announced

Friday, 03 April 2020

The ongoing coronavirus outbreak is affecting many people, industries and sports across the world, including the MotoGP™ World Championship.

With the agreement of the FIM and the full commitment from shareholders Bridgepoint Capital and CPP Investments, Dorna Sports is proud to be able to assure help for MotoGP™ Class Independent Teams through this difficult moment in the history of our sport, as well as teams in the Moto2™ and Moto3™ classes.

Through the International Road-Racing Teams Association, MotoGP™ Independent Teams will each receive considerable advance payments during the months of April, May and June, irrespective of whether activity is restarted or not. This is in order to guarantee the economic well-being of the Independent Teams and their staff, as well as to secure their subsistence for the future.

In addition, IRTA has already made payments to all Moto2™ and Moto3™ teams to support them during this difficult period. Further measures for the intermediate and lightweight class teams will be considered in due course.

As previously stated, Dorna Sports is working hard to try and ensure that this crisis leaves all those in the MotoGP™ World Championship with only one consequence; that of a modified calendar.

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Comments

Happy birthday David Emmett.

Thanks for keeping the site going in these crazy times. Another day closer to some motorcycle racing.

How are you doing Sir Shrink? Howdy y'all. All you all.

I do hope you & all the MotoMatters kollective are staying healthy.

I'm riding for work, delivering an "essential service" two days on the Honda this week :-)

Keep up the training, better times is coming, by & by.

Streets are empty, so everywhere everyday is a track day. Been running out two new to me motorbikes.

Still seeing patients, but some "telehealth" calls. Bleach spray on every wee thing, negative air pressure, 6ft apart, so far so good. People are really struggling. I am not.

I miss MotoGP! Off to the shop to turn wrenches...
Cheers