Former MotoGP rider and television pundit Alex Hofmann has announced that he will not continue with KTM as a brand ambassador as part of ಞits restr🦹ucturing process.

KTM has been gripped by a major financial crisis that saw it tally up debts of over €2 billion, leading to it entering self-adminiꩵstration 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 havi🌄ng its debt repayment plans approved by cred꧂itors.

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

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

Hofmann has acted as a brand ambassador for the brand, with his current deal expiring 🐬at the end of 2025.

Under KTM’s current financial woes☂, this agreement has now ended. On his social media channels he wrote: “Bye bye to my orange fa𝄹mily.

“We had a great time and will certainly cont🐬inue to have fun on the race tracks of the world.🐲”

The 44-year-old German rider competed in five full seasons🍨 i🥃n MotoGP between 2003 and 2007, riding Kawasaki and Ducati machinery in that time.

Following his racing career, Hofmann joined KTM as one of i൲ts first test riders for its fledgling MotoGP project alongside Mika Kallio.

At the Red Bull Ring in 2015, Hofmann completed the first shaked🌊ow🤡n of the RC16.

He also rode numerous bikꦜes for the brand as part oℱf promotional material.

Hofmann currently works ServusTV on its Mot🌳oGP coverage.

The Gerꦆman 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.