The rumours were true after all: Steiner leads Red Bull team acquisition

12:54, 05 Sep

byNorberto Mujica

Guenther Steiner, it has been revealed, has led a consurtium acquisition targeting a Red Bull owned team.

Red Bull KTM Tech3 team in MotoGP, has exchanged hands, with the former F1 boss spearheading the acquisition funded by a group of investors led by IKON Capital, which will premier its revamped structure that encompasses the Moto3 team as well, as early as 2026.

Steiner will assume the role of CEO, as project partner Richard Coleman will lead the team's operational functions as team principal.

The current structure that sees the team's founder and current boss, Hervé Porcharal, will remain untouched for the remainder of the year, with his role shifting to a consulting nature as of next year.

The team will continue to race as Tech3 and racing KTM bikes, retaining their base of operation in Bormesles-Mimosas, France.

Steiner brings invaluable experience in motorsport, having held senior roles in Jaguar Racing, Red Bull Racing and Haas F1 team in the pinnacle of motorsport.

Steiner, Coleman and Porcharal react to the acquisition

In a press release published on MotoGP's website Steiner could not hide his enthusiasm for the next chapter in the world of motorsport.

"This is a fantastic opportunity. Tech3 is a great team with a huge amount of potential and an impressive legacy.

"Hervé’s impact on the team and MotoGP itself cannot be overstated, and we’re honoured to take over and keep building on those foundations.

"We’re excited to become part of the MotoGP paddock and maximise the potential of the team and the sport as it continues to grow, helping to bring it to new audiences."

Richard Coleman, the team's future team principal said: "We are approaching this project with humility, recognising the incredible talent and expertise that already exists across the MotoGP paddock, but also with ambition.

"We’re here to compete, not just participate, on every level, with a real passion for the sport. We want to connect with even more fans and show off the best of MotoGP.

"Founded in 1990, Tech3 is one of the MotoGP paddock’s longest-serving teams. Joining the MotoGP class in 2001 after winning the 2000 250cc title, the team has taken 38 MotoGP podiums and won two MotoGP Grand Prix races to date."

On his part, Hervé Poncharal, who's passing on the mantle reacted to the news by stating the following: "This is the end of an era, but also the beginning of an exciting one for all of us.

"I’m very proud of everything we’ve achieved since Tech3 was born, winning MotoGP races and taking so many podiums, as well as what we have built over these decades with all the people we crossed paths with.

"When Guenther approached me with an interest in the team, it seemed to fall into place as the perfect moment to make this change. I know that Guenther will lead the team with direction, ambition, and integrity – not forgetting that little bit of rock’n’roll spirit it was founded on. Tech3 will be in good hands to help it grow even more in this new era for MotoGP."

"Steiner has been evaluating opportunities in MotoGP for more than two years, driven by a long-standing belief in MotoGP’s strength as a sports entertainment property alongside the potential to evolve Tech3 from a successful racing team into a sports franchise.

"The mission on arrival is to maximise both – retaining the team’s sporting pedigree whilst beginning a new era at the forefront of fan connection as the sport continues its trajectory of growth. The acquisition transaction will be funded by a group of investors led by IKON Capital."