BARCELONA, Spain — Former Haas F1 team principal Guenther Steiner is heading a group that has purchased the Red Bull KTM Tech 3 team in MotoGP, the two-wheeled equivalent of Formula 1, the team and series announced on Friday.
A source told ESPN that the deal to take over the operation, which has competed in the sport’s premier class since 2001, is worth around €20 million ($23.4m), and the acquisition transaction will be funded by a group of investors led by IKON Capital.
Steiner will not take control of the team until 2026, when he will serve as CEO. Richard Coleman, who has worked with F1 teams and in other four-wheeled motorsport, will serve as team principal. Hervé Poncharal, the current owner of the team, will move into a consultancy role beginning next season.
The team will remain unchanged next year, carrying over personnel and its French headquarters.
“This is a fantastic opportunity. Tech 3 is a great team with a huge amount of potential and an impressive legacy,” Steiner said in a statement.
“Hervé’s impact on the team and MotoGP itself cannot be overstated, and we’re honored to take over and keep building on those foundations. We’re excited to become part of the MotoGP paddock and maximize the potential of the team and the sport as it continues to grow, helping to bring it to new audiences.”
Prior to the 2024 F1 season, Steiner was the only team principal Haas had ever known, overseeing the team’s formation and debut in 2016 in what became an eight-year tenure in charge of the American outfit. The Italian-born resident of North Carolina became a star in the Netflix docuseries “Drive To Survive,” in which his candid, expletive-filled opinions resonated with fans during F1’s boom in the U.S.
Liberty Media, owner of F1, completed a €4.2 billion takeover of Dorna Sports, the commercial rights holder of MotoGP, in July. The two-wheeled sport has undergone considerable changes behind the scenes in the past two years as it aims to strengthen its commercial operations. Liberty’s involvement is expected to supercharge those efforts.
Steiner’s acquisition of Tech 3 marks the first tangible sign of MotoGP’s growth. The last time a senior team changed ownership was in late 2023, when North Carolina-based Trackhouse Racing acquired RNF Aprilia for less than €3m, one source told ESPN.
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“It’s a pleasure to welcome Guenther to MotoGP,” Carlos Ezpeleta, chief sporting officer for Dorna, said. “We’re in a great moment for the sport, continuing our trajectory of growth, and poised for that to accelerate even more. Tech 3’s legacy speaks for itself, as does Hervé’s contribution to the sport, and this new era is set to build on that even further, so this is an exciting win-win.
“Although he will still be around as he transitions into a consultant role from next year, we want to thank Hervé for everything he has achieved and contributed to MotoGP, and to give Guenther and Richard a warm welcome to our paddock. We’re excited to work all together.”
Poncharal founded Tech 3 in 1990 and has owned and operated the outfit ever since, winning an intermediate-class championship with Olivier Jacque in 2000 and two premier-class victories in 2020 with Miguel Oliveira. Red Bull KTM Tech 3 riders Maverick Viñales and Enea Bastianini sit in 14th and 15th, respectively, in the 2025 MotoGP championship.
