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

KTM has been gripped by a m🐠ajor 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澳洲幸运5官方开奖结果历史:KTM has been successful ✨in having its debt repayment plans approved by creditors.

It must now pay around €600 million by May to the insolvency administꦿrator, which will then be divvied up to the creditors.

KTM has been able to restart production and continues to have a fac꧋tory MotoGP project ✃in 2025, though cuts have still needed to be made.

Hofmann has acted as a brand ambassador for the brand, wit♓h his current deal expiring at the♐ end of 2025.

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

“We had a grea🌳t time and will certainly continue to have fu✨n on the race tracks of the world.”

The 44-year-o༺ld German r🅠ider 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 MotoG🎃P project alongside Mika Kallio.

At the Red Bull Ring in 2015,ཧ Hofmann completed the first shakedown of the RC16.

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

Hofmann curren🅰tly works ServusTV on its MotoGP coverage.

Theꦑ 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.