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Former Formula 1 team boss Guenther Steiner’s takeover of the Tech3 KTM team is set to be announced at this weekend’s Catalan Grand Prix, according to The Race’s sources in the MotoGP paddock, with the Italian leading an American consortium that will purchase the squad from long-time owner Herve Poncharal.
In open negotiations for some months, there were initially rumours during last month’s MotoGP summer break suggesting that the deal had been completed - something denied to The Race by Poncharal, even as he admitted that they were still negotiating the sale.
"A very straightforward person and a very I think nice person to eventually work with,” Poncharal said of Steiner at the Aragon GP earlier this year.
“So right now I am listening to the proposal. It could be to come as a shareholder, as a partner, but it could also be to buy the whole team.
"But what I am pushing for is to secure the possibility to be alive and kicking '27-'31, with - I hope - the Tech3 name, with my base, my team, and different investors. Just to make things safe.
"We will have to do quite a few important investments for the 2027-2031 contract, and alone it's a little bit difficult to do."
However, it now seems that a solution has been found, with the news of Steiner’s takeover set to be announced on Friday afternoon at the Montmelo circuit.
The Race first heard suggestions from multiple sources on Tuesday that a deal had been signed, with others confirming on Thursday that news was imminent.
A ‘special press conference’ has already been added to the schedule for the weekend’s activities without revealing further information about what it is to discuss, something very unusual for MotoGP.
The news should come as very welcome to MotoGP’s new owners Liberty Media, who have witnessed Steiner’s rise to superstardom thanks to his role in F1 documentary Drive to Survive as Haas team principal, where he became very much the breakout star of the show.
Bringing him into MotoGP creates the perfect opportunity for Liberty to start converting some of their huge F1 audience across to their new property, with a new documentary series following Steiner likely to be among their first steps.
