Former F1 team boss Steiner leads takeover of KTM Tech3 MotoGP team

A consortium led by the former Haas F1 team principal Guenther Steiner will acquire full ownership of the Red Bull KTM Tech3 MotoGP team, with the new structure to take full effect in 2026, the team announced on Friday.

Steiner will assume the role of CEO while project partner Richard Coleman will become the team principal of one of the MotoGP paddock's longest-serving teams. The acquisition will be funded by a group of investors led by IKON Capital.

Founder and current team principal Herve Poncharal will continue to lead the team through the 2025 campaign before he transitions to a consultant role.

"I want to thank Herve for the trust in giving his baby to us. I'm in motorsport a long time, it's my first time with two wheels and not four wheels," Steiner told reporters.

"I have a lot to learn, I know that, I'm very conscious of that... When I left Formula One (at the) end of 2023, I was looking around what to do next. I always loved MotoGP (but) I never had time to enjoy it because I was working."

Steiner said a visit to Austin sparked the idea of getting involved in the sport more deeply, leading him to connect with key figures like Poncharal, describing an immediate rapport.

Steiner's blunt honesty mixed with swear words and a complete disregard for television etiquette made him a highly popular figure during his time in Formula One.

As team principal of Haas from 2016 to 2023, the team struggled to punch above their weight but survived in the sport under his leadership.

The Italian reassured Poncharal that the team's legacy would be preserved and he had no intention of changing what already works well.

'BIGGEST CHALLENGE'

"I think my biggest challenge is to learn as quick as possible what is going on here. We approach this