The Pierer Mobility Group has issued a statement denying reports that Red Bull co-owner Mar🔯k Mateschitz could help KTM out of its financꦚial 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 measures.

The Austrian company has already slashed its board of directors down from six to two, while u♑p to 300 staff layoffs are incoming on top of th🍒e job cuts that have already been made.

KTM is also set to pause production in the first two months of 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 had already taken place.

But the Pierer Mobility Group have denied this in a statement, saying: “In response to the newspaper reports, Pierer Mobility makes it clear that there are no discussions about🙈 Mark M🔯ateschitz joining Pierer Mobility and KTM.”

MotoGP project continues as normal

KTM has been insistent that its MotoGP proje💯ct remains unaffected by the comp💜any’s financial troubles.

This comes as its Husqvarna brand disappears from the Moto2 and Moto3 grid next year, while Tech3 will𒊎 no long run GASGꦿAS-badged KTMs.

Instead, Tech3 wi📖ll revert to 🐼its team name from 2021 and 2022 when it was known as Tech3 KTM Factory Racing.

In an interview with Salzburger Nachrichten, Pit Beirer said: “We will stay in all the series we are ꦍin.

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

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

“Our junior programme, which begins with the Rookies Cup, is also noꦓt at risk. Our partners and sponsors are supporting us in this difficult phase.”

“Motorsp𝔉ort and the company's success over the last 20 years are directly linke꧅d.

“We are the co෴mpany's best marketing tool. The company has had♎ linear growth for over 20 years.

“We won ꧂races and then sold motorcycles. That's the secret of success.

“We are 'Ready to Race' an🍬d we do not engage in motorsport as an 🃏end in itself.

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

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

KTM has won seven grands pꦦrix in MotoGP since joining the class in 2017, though the timeframe of eight years it had set from the beginning to be title challengers are no𒁏w elapsed.

The brand fini𓃲shed second in the MotoGP constructors’ standings in 2024, though still hasn’t won a grand prix since 2022.

Next year it will field P▨edro Acosta and Brad Binder at its factory team, while Maverick Vinales and Enea Bastianini join works-supported Tech3.