Alpine Formula 1 driver Pierre Gasly joins the group of investors led by Guenther Steiner in the acquisition of the Tech3 Moto GP team.
The purchase of the MotoGP team was announced last September, with former Haas team principal Steiner leading the project.
A source revealed that the deal was worth approximately 20 million euros, with IKON Capital as the main investor group.
On Friday, IKON Capital and Steiner revealed to everyone involved in the investor group, which includes American investor David Blitzer and Main Street Advisors.
Gasly’s investment is made through the investment group SLAM/TRAIL, making him the first active F1 driver to invest in a MotoGP team.
I am excited to have the opportunity to invest in Tech3 together with SLAM Fund. I have a strong conviction in the strength of the Tech3 brand and the long-term growth of the MotoGP sport.
Tech3 has competed in the premier class of motorcycling since 2001 and, based in France, is currently a satellite team of the Austrian manufacturer KTM.
Liberty Media, owner of F1, completed the acquisition of Dorna Sports, the company that manages the commercial rights of MotoGP, in July of last year, for 4.2 billion euros, and has expressed its desire to grow the sport in North America.
It’s a very exciting time to enter MotoGP, and it was important for IKON Capital and for me to bring together a group of like-minded investors who share a long-term vision for the Tech3 team.
Guenther Steiner
Steiner added that they are committed to preserving Tech3’s heritage while adopting a strategic approach to growth.
