Guenther Steiner Set to Acquire Tech3 MotoGP Team
In a significant development in the world of motorsport, Guenther Steiner, the former principal of the Haas Formula 1 team, is nearing the completion of a deal to purchase the Tech3 MotoGP team. This acquisition, reported by sources intimately familiar with the situation, is projected to be valued at over €20 million. Tech3 has a rich history in motorcycle racing, having been established in 1990 by Hervé Poncharal and Guy Coulon. The team made its first appearance in the MotoGP class in 2001, after achieving victory in the 250cc world championship with rider Olivier Jacque.
This acquisition comes on the heels of Liberty Media’s substantial €4.3 billion acquisition of Dorna, the promoter of MotoGP. With this shift in ownership, further changes and interactions between Formula 1 and MotoGP are anticipated. Notably, renowned F1 driver Lewis Hamilton expressed interest last year in acquiring two slots on the MotoGP grid, indicating a potential cross-pollination of interests between the two premier motorsport series.
Steiner carved out a notable presence in the F1 landscape during his tenure with Haas, where his charismatic persona and candid communication style earned him a significant fanbase. However, in early 2024, he was replaced as team principal by Ayao Komatsu after Gene Haas opted not to extend his contract. Despite this setback, Steiner’s passion for motorsport remains evident as he transitions to the MotoGP world.
Funding and Support for the Acquisition
Steiner’s venture into MotoGP isn’t a solo endeavor. It is understood that the majority of the financial backing for this acquisition is being provided by Apex, a firm specializing in managing investments for approximately 100 professional athletes, including notable figures such as Lando Norris. Other prominent F1 drivers are also rumored to have invested in Apex, although they have chosen to remain discreet about their involvement. Apex has made headlines in the past for its strategic investments, including a notable 20% stake in the Alpine F1 team.
Hervé Poncharal, the current team principal of Tech3, has openly acknowledged ongoing discussions with various potential buyers, including Steiner. He has described Steiner as straightforward and approachable, qualities he values highly. Poncharal has mentioned that Steiner could take on several roles within the new structure, whether as an investor, partner, or minority shareholder focused on sponsorship opportunities.
Commitment to Team Stability
Regarding the operational aspects of the team, sources indicate that there is a firm commitment to preserving the existing Tech3 staff, as well as retaining the current riders and the team’s French headquarters. This stability is crucial as it allows for a seamless transition and ensures that the team can continue to operate effectively during this period of change.
Poncharal is expected to gradually pass the reins to Steiner, facilitating a smooth handover as the former Haas boss becomes acclimated to the dynamics of running a MotoGP team. Steiner’s extensive experience and his charismatic appeal, bolstered by his portrayal in the popular series "Drive to Survive," are anticipated to attract a broader audience to Tech3.
KTM’s Role in the Future of Tech3
The acquisition comes at a pivotal moment for KTM, the Austrian manufacturer responsible for supplying the motorcycles currently raced by riders Maverick Vinales and Enea Bastianini at Tech3. KTM recently navigated a challenging financial landscape, emerging stronger thanks to significant investment from Bajaj, an Indian company that took control of KTM after injecting approximately €800 million into the brand.
Both Vinales and Bastianini are contracted directly with KTM, which mitigates any immediate concerns regarding their future with Tech3 following the ownership transition. Furthermore, KTM has reaffirmed its commitment to MotoGP through at least 2026, ensuring that the new ownership will have access to the RC16 bikes for the upcoming season.
Future Prospects and Contractual Landscape
As it stands, all current contracts between the teams and Dorna will expire in 2026, indicating that 2027 will be a crucial year for satellite teams like Tech3 in renegotiating deals or exploring new supplier relationships. The landscape of MotoGP is evolving, particularly in light of Liberty Media’s strategic moves and the increasing interest from various corporate entities, investment funds, and wealthy individuals in acquiring control of teams.
Last year, there were discussions surrounding the sale of Gresini to Andrew Fox, a prominent figure in logistics and ownership of the Phillip Island circuit. Despite the promising nature of the negotiations, Nadia Padovani, the widow of the late team founder Fausto Gresini, ultimately opted against the sale.
The Broader Implications of the Acquisition
Steiner’s entry into the MotoGP realm is more than just a business transaction; it symbolizes a growing trend of crossover between different motorsport disciplines. The melding of F1 and MotoGP has the potential to create new synergies and opportunities for both sports, as fanbases overlap and the allure of motorsport as a whole is amplified.
With the increasing recognition of MotoGP as a premier motorsport category, the potential for growth in viewership and sponsorship is significant. The presence of figures such as Steiner, who have already made a name in F1, could serve to elevate the profile of MotoGP even further, drawing in fans who may have previously been more focused on four-wheeled racing.
Conclusion
As Guenther Steiner finalizes the acquisition of the Tech3 MotoGP team, the motorsport community watches with keen interest. The transition marks a pivotal moment not only for Steiner but also for the future of Tech3 and its riders. With a commitment to team stability and a focus on attracting new audiences, this acquisition could herald an exciting new chapter in the world of motorcycle racing. The unfolding narrative promises to blend the rich histories of both F1 and MotoGP, potentially reshaping the landscape of professional motorsport as we know it.
