Road funding

KymiRing’s possible bankruptcy puts Finnish MotoGP racing at risk

Things happened on the Finnish KymiRing circuit. After hosting Honda, Yamaha, Suzuki, Ducati, KTM and Aprilia test riders in 2019, the track was looking forward to hosting the first Finnish Grand Prix since 1982 in 2020.

Of course, the COVID-19 pandemic eliminated that possibility for the 2020 and 2021 seasons. the ongoing dispute between Russia and Ukraine has forced officials from FIM, IRTA, Dorna Sports and KymiRing to postpone the event until 2023.

At least, that was the story on the surface. Besides the difficult geopolitical situation in the region, other reports have cited homologation work at the racecourse as another driver of the 2022 cancellation. Organizers ended the Finnish round less than seven weeks before the race weekend of July 10, 2022.

At this stage, the KymiRing still had to pave the paddock, access roads and ambulance lanes. The schedule for these critical infrastructure projects has been extended following the postponement, but it appears the KymiRing is in worse shape after the canceled 2022 cycle.

Finnish most recent newspaper Iltalehti reported that KymiRing still owes construction companies Maanrakennus Pekka Rautiainen ky and Macra oy €370,000 ($380,000) and €264,000 ($271,000), respectively. For this reason, both companies filed a bankruptcy petition against the KymiRing with the Päijät-Häme District Court on Tuesday, June 28, 2022. Unfortunately, the owners of KymiRing have still not been able to pay the debt, triggering bankruptcy proceedings.

“We are aware that the application has been submitted,” admitted KymiRing CEO Riku Ronholm. “However, we have not yet received the application, so we are not commenting at this stage. The KymiRing Board and Owners will discuss the matter internally today and in more detail after the application is received. and its content.

We will have to wait for the organizers to confirm receipt of the bankruptcy petition before knowing the fate of the KymiRing, but hopefully the circuit will take a break soon.