As colleagues from Germany report, the soap opera around KymiRing and the failed promoter of the Finnish MotoGP Grand Prix – KymiRing Events, which filed for bankruptcy back in August, continues in Finland.
Speedweek writes that the exclusion of KymiRing from the 2023 calendar was obvious immediately after the Finnish Grand Prix was canceled for the third time in a row in July 2022. In May it became known that the completion of construction works on the circuit is impossible because of the huge debt of the circuit to the investors, who had already lost patience and demanded their money back by that time.
The only thing that could have saved the situation, and the promoter and the circuit from bankruptcy, was Dorna Sports’ guarantee that MotoGP would come to Kouvola in 2023. The guarantees would have helped find the missing couple of million to complete the work and do the FIM homologation. But Dorna refused to support the partner so pompously introduced in August 2019 because Sokol International Racetrack appeared on the horizon with cash on hand.
The Germans write that of the €25 million debt hanging over KymiRing Events, €6.4 million is money that was paid by Dorna to a local promoter in advance to promote the Finnish Grand Prix in the Baltic region. But since the event didn’t take place, MotoGP bosses would like to get the money back. There is even talk of a certain lawsuit already filed against the autodrome by a Spanish company in Finland.
It’s hard to assume that this operation will succeed, as KymiRing hasn’t had that money for a long time…