Dorna steps in with financial support for independent MotoGP teams
Independent teams will be granted financial support by MotoGP rights holders Dorna in an effort to keep them afloat during the coronavirus hiatus
Dorna has announced it has come to an agreement to release ‘considerable advance payments’ for the next three months to ease the financial burden facing its independent teams in the wake of the coronavirus pandemic.
With no formal date set for the start of the MotoGP World Championship and considerable changes anticipated to the 2020 calendar, there are growing concerns some teams won’t be able to survive in the fallout from the crisis.
For now though, Dorna has confirmed it is will step in by advancing payments to the series’ independent teams – Petronas SRT, Pramac, LCR, Tech 3 and Avintia - as well as Moto2 and Moto3 outfits, to ensure they can continue to pay wages and help ward off potential lost earnings from sponsors.
“The ongoing coronavirus outbreak is affecting many people, industries and sports across the world, including the MotoGP™ World Championship," read a statement.
“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.”
