No one can dispute Stefan Pierer's long-standing business acumen. In addition to holding the position of CEO at KTM, he also sits on the boards of several billion-dollar companies.
At the same time, it is clear that business projections are not so easily replicated in an ecosystem like MotoGP. The Austrian company is already running late, according to the timeline set by its most senior executive upon deciding to enter the championship in 2017.
Pierer calculated that KTM would need five years to get to grips with the series and after that it would be in a position to fight for the title within three years. The truth is that those eight years have now come to an end, and the orange bikes are caught in another big whirlwind of change, a further profound shake-up in a season in which some dared to predict a close duel with Ducati.
Autosport understands that KTM's top management is discussing how it intends to re-establish the balance of power within the organisation, with a major move expected. Francesco Guidotti, the current team manager, is already packing his bags for his departure.
The Italian was recruited from Pramac ahead of 2022 but less than three years later, despite having a contract in force until the end of 2025, will leave his post either at the end of the season or even before the season ends in Valencia. His case comes after that of Fabiano Sterlacchini, who joined in 2021 as technical chief and who agreed his departure a month ago, although his contract is still valid until next month.
Another person who almost left the group was Alberto Giribuola, signed from Ducati in 2023 as KTM's engineering coordinator. He now plays the role of technical manager for Augusto Fernandez and in 2025 will be the technical manager for Enea Bastianini, with whom he already worked at Gresini.
Had it not been for the express wish of the Italian rider - another of those who will arrive in KTM next year - to work with him, 'Pigiamino' - Giribuola's nickname in the paddock - would surely be leaving the factory.
"There is no patience here, and that is the worst thing that can happen to a factory in MotoGP," an authoritative member of the KTM staff told Autosport. "You have to give stability and let the people you hire work. But unfortunately, that doesn't happen.
"The people at the top are very stubborn. They still haven't realised that this is not a good thing and that it brings very little positive and a lot of uncertainty among the staff."
The void left by the departing figures, especially the executive ones such as Guidotti, will be filled by others. Autosport believes that two names from KTM are gaining momentum: Dani Pedrosa and Aki Ajo.
The former is one of the leading testers, to the extent that Pierer himself refers to him as "the real boss of KTM" as he is the one calling the shots in the development of the RC16. However, the Spaniard's personal life, enjoying spending time with his family away from the whirlwind of the racing, makes it difficult to see him in a position as demanding as that of team manager, which requires a permanent presence in races. It seems more likely that he will be offered an executive role complementary to that of Pit Beirer, KTM's sporting director.
Pierer and his inner circle are determined to break the bank and give KTM a new lease of life in order to reduce the deficit that currently separates it from Ducati
Then there is Ajo, who is already in charge of managing the KTM teams in the lower categories. He is always ready to lend a hand to his bosses, who have long seen him as one of the most efficient managers in the paddock, especially when it comes to the ratio of investment to sporting profit. The Finn has long been on the lookout for a chance in MotoGP and, in fact, the Mattighofen-based manufacturer even considered giving him a third team for 2024, had he secured the spot that was ultimately denied to him.
With all this in mind, the MotoGP staff are understandably highly nervous, especially given the company's losses - with sales down 15% - a circumstance that has filled its warehouses with stock of bikes. The KTM share is currently trading at 26 euros, less than half of what it was exactly a year ago (62 euros).
In Spielberg, Pedro Acosta was asked if he had had the chance to talk to the big boss.
"The grands prix are not the right place, because we all go about our business. But the most important thing is that we have been assured that the investment in the MotoGP project will continue," said the Spaniard, in a message of relief considering that KTM has been laying off employees by the hundreds since the start of this year.
In any case, Pierer is unlikely to abandon his 'toy', and it is more than logical to think he will use resources and funds from elsewhere to avoid collapse. A month ago, the Austrian entrepreneur signed the sale to the Luxshare group of 50.1% of Leoni, a German multinational dedicated to the manufacture of car wiring, which he had acquired in 2023 and which last year had a turnover of 5.5 billion euros. The rescue of Leoni, which employs 95,000 people in factories in 26 different countries and plays a key role in the German car industry, was so large that it gave him access to a seat on the board of Mercedes-Benz.
The image that the businessman projects, in most areas he works, is that of a man of success. That is why he cannot allow his ability to be called into question in a showcase such as MotoGP. Pierer and his inner circle are determined to break the bank and give KTM a new lease of life in order to reduce the deficit that currently separates it from Ducati.
With Acosta and Brad Binder as the spearheads in 2025, the 2024 numbers can be improved on, given the expectations generated. Although the South African is ahead in the overall standings (fifth), it is the Spaniard (sixth) who has achieved the best results, with three podiums to Binder's one. The rider from Potchefstroom now has 165 points in the standings, 36 less than he had at this point in 2023, when he was fourth in the standings.
The last victory for the brand, which has won a total of seven times in almost eight years, came from Miguel Oliveira in 2022 in Thailand. Since then, its record has been limited to eight podiums, well below the expectations of the top management.
This drop is not comparable to Yamaha and Honda's downturn, which has allowed KTM to move into second place in the constructors' standings, albeit only five points ahead of Aprilia.
But where the Pierer Mobility group - KTM and GasGas - excels more than anyone else is in the area of crashes. Between the four riders, they have a total of 56 crashes, leaving aside test riders Pol Espargaro (four) and Pedrosa (two). That figure is well above Aprilia's 30 and Honda's 29, both also with four bikes on track, and is only exceeded by Ducati's 88 crashes, albeit with twice as many riders on the grid with eight.
