Former MotoGP rider and television pundit Alex Hofmann 🧔has announced that he will not continue with KTM as a brand ambassador as part of its restructuring process.

KTM has been💫 gripped by a major financial crisis that saw it tally up debts of over €2 billion, leading to it entering self-administration last November.

Through job cuts, scaled back racing programmes and a temporary pause on development, 168澳洲5最新开奖结果:KTM has been successful in having its debt repayment plans appro💃ved by creditors.

It must now pay around €60ജ0 million by May to the insolvency administrator, which will then be divvied up to th🐈e creditors.

KTM has been able to restart production and continues to have a factory MotoGP project in 2025, though cuts have st🥂ill needed to be made.

Hofmann has 🙈acted as a brand ambassador for the brand, with his current de🍒al expiring at the end of 2025.

Under KTM’s current financial woes, this agreement has now ended. On his social media channℱels he wrote: “Bye bye to my orange family.

“We had a great time and will certainly continue to have fun on the race trac🐬ks of the world.”

The 44-year-o𝓀ld German rider competed in five full seasons in MotoGP between 2003 and 2007, riding Kawasaki and Ducati machinery in that time.

Following his racing career, Hofmann joined KTM🉐 as one of its first test riders for its fledgling MotoGP project a🌼longside Mika Kallio.

At the ꦬRed Bull Ring in 2015ও, Hofmann completed the first shakedown of the RC16.

He also rode numerous bikes for the brand as part 𒁏of promotional material.

Hofmann currentl🦹y works ServusTV🃏 on its MotoGP coverage.

The German isn’t the first ex-grand prix racer to be♉ swept up in KTM’s financial problems, as Jeremy McWilliams was removed from his role as a development rider earlier this year🌜.