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Friday, February 23, 2024

RNF MotoGP group denies monetary issues and takeover talks

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The RNF group got here into existence on the finish of 2021 following Petronas and the Sepang Racing Workforce’s determination to stop MotoGP on the conclusion of that season.

Former SRT group boss Razlan Razali grew to become the proprietor of RNF, which fielded Yamaha bikes in 2022 earlier than linking up with Aprilia for this season.

For 2023, RNF took on a title partnership with Romanian agency CryptoDATA, whereas Razali offered a majority stake in his group to the corporate.

The group has achieved largely poor outcomes nevertheless. RNF completed eleventh of the 12 groups in 2022 and is on target for ninth out of 11 outfits this season.

Throughout the Valencia Grand Prix weekend, reviews emerged in some media that RNF’s place on the grid subsequent yr was doubtful amid rumours of debt regarding its title accomplice.

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Italian outlet GPOne then reported that NASCAR group Trackhouse Racing was set to take over RNF subsequent season.

This adopted a social media publish from Razali which recommended – however didn’t explicitly state – that he was stepping down on the finish of the season.

However on Saturday night in Valencia, the group put out a press release denying all of this, noting {that a} takeover supply was rejected two weeks in the past and that Razali is stepping down – although this was determined over a month in the past.

RNF additionally denied owing any cash to suppliers, together with Aprilia.

Photograph by: Gold and Goose / Motorsport Images

Lorenzo Savadori, RNF MotoGP Racing

The total assertion reads: “There are numerous speculations within the press in regards to the CryptoDATA RNF MotoGP Workforce and due to this we wish to present clarifications via this official press launch.

“One factor is obvious – CryptoDATA RNF MotoGP Workforce has a contract for participation within the MotoGP Championships that’s legitimate till 2026 which was assigned from Sepang Racing Workforce.

“This contract has very clear phrases and situations and till now we’ve got not even been notified a few breach of a contractual obligation. Much more, we didn’t obtain a termination discover of this contract.

“Furthermore, RNF has a legitimate contract with Aprilia and we didn’t obtain a discover to terminate this contract as properly. The speculations with respect to the standard of the components for bikes offered by Aprilia as a result of “alleged” money owed are false.

“There are not any money owed in direction of Aprilia and all quantities are settled since earlier this yr. Additionally, along with what was within the contract, we’ve got agreed to further mechanics and carried out with fulfilling the additional prices.

“It is true that RNF had obtained a proposal for the place on the grid, in Madrid at Dorna workplace, nevertheless this supply was rejected formally greater than 2 weeks in the past and since then no different negotiation was initiated.

“The CryptoDATA RNF MotoGP Workforce doesn’t have any money owed or disputes with its suppliers and all of the exercise is carried out in response to the marketing strategy and in response to the contractual phrases with the suppliers.

“The RNF Workforce continues to be owned 60% by CDT SPORTS AND MEDIA SRL and 40% by Razlan Razali. The corporate RNF Racing Ltd. is topic to an inner audit by the bulk shareholder (CDT) to assessment the inner processes and the exercise of the workers.

Razlan Razali, RNF MotoGP Racing

Photograph by: Gold and Goose / Motorsport Images

Razlan Razali, RNF MotoGP Racing

“The modifications within the administration of the group will include certainty as this was a transition yr and after the audit we’ll put into place optimization processes of the human assets in an effort to implement the technique with techniques to acquire efficiency within the group.

“The choice for Razlan Razali to not be a part of the RNF Workforce administration was not solely from yesterday, however was taken a couple of month in the past, as a result of strain made by the shareholders following poor efficiency and monetary choices.”

RNF is because of proceed in 2024 with Miguel Oliveira and Raul Fernandez on year-old Aprilias.

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