Alex Hofmann ends KTM brand ambassador role amid financial crisis

Alex Hofmann, former MotoGP rider who competed from 2003 to 2007, has confirmed his departure from his position as KTM brand ambassador — a role he held since joining the Austrian manufacturer.

This announcement comes as KTM struggles to overcome a financial crisis that began late last year — with total debt exceeding €2 billion which led to temporary production halt at the Mattighofen factory.

The restructuring plan approved by creditors last month requires KTM to:

• Pay 30% of total creditor claims in cash payment
• Deposit €548 million to restructuring administrator
• Complete this process before mid-year

“It’s true there was a close connection through my role as brand ambassador. This agreement expires this year. It’s one of the many measures KTM had to take to restore stability,” Hofmann told SPEEDWEEK.com.

“So bye for now my orange family! We had a blast and won’t stop having fun together on the race tracks of this planet. Thanks,” Hofmann posted on social media.

Along with Hofmann, development rider Jeremy McWilliams, a former Grand Prix winner, will also be ending his role with the team.