Dorna Sports together with Bridgepoint Capital and CPP Investments will help independent MotoGP teams along with Moto2 and Moto3 outfits amid COVID-19 pandemic.
Reports of Dorna helping the satellite MotoGP teams along with Moto2 and Moto3 outfits started to circulate earlier in the week. The news has now been confirmed from the promoters of the two-wheeled championship.
With the help of its shareholders Bridgepoint Capital and CPP Investments, Dorna will be paying up in advance to the independent MotoGP teams as well as Moto2 and Moto3 classes outfits. They will be paid for April, May and June already.
The step taken is to minimize the troubles faced by such teams, who will face a severe cash burn as no roots take place. This will also help them in paying the salaries of their staff. There will be further steps taken by Dorna to safeguard everyone in the sport.
Here’s the full statement from Dorna:
“With the agreement of the FIM and the full commitment from shareholders Bridgepoint Capital and CPP Investments, Dorna Sports is proud to be able to assure help for MotoGP Class Independent Teams through this difficult moment in the history of our sport, as well as teams in the Moto2 and Moto3 classes.
“Through the International Road-Racing Teams Association, MotoGP ™ Independent Teams will each receive considerable advance payments during the months of April, May and June, irrespective of whether activity is restarted or not. This is in order to guarantee the economic well-being of the Independent Teams and their staff, as well as to secure their subsistence for the future.
“In addition, IRTA has already made payments to all Moto2 and Moto3 teams to support them during this difficult period. Further measures for the intermediate and lightweight class teams will be considered in due course. As previously stated, Dorna Sports is working hard to try and ensure that this crisis leaves all those in the MotoGP World Championship with only one consequence; that of a modified calendar. “
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