Cycle News is a weekly magazine that covers all aspects of motorcycling including Supercross, Motocross and MotoGP as well as new motorcycles
Issue link: https://magazine.cyclenews.com/i/658612
IN THE WIND P32 MV AGUSTA FILES FOR CHAPTER 11 BANKRUPTCY M V Agusta could be on the verge of closing its doors after filing for Chapter 11 bank- ruptcy in the Italian courts. A Chapter 11 is unlike a traditional bankruptcy; it's more a request for financial breathing space where loans are frozen, time is granted to allow the company to get back on its feet, giving them a chance to save what positive assets are left. The past 24 months have been somewhat positive for MV Agusta, with 25 percent of ownership now in the hands of Mercedes AMG and solid growth thanks to a claimed 30 percent increase in international turnover, new models and more competitive pricing. However, this doesn't appear to be enough to stem the tide of growing creditors lining up to be paid at the Varese manufacturing plant. It's yet another sad scenario for MV Agusta, a company that's changed hands numerous times since being revived by the late Claudio Castiglioni 20 years ago. Harley-David- son tried to get the famous MV brand revving again, as did four-wheel concern Proton. The company is now back in Casti- glioni hands in what proved to be Claudio's last business move before his death in 2011, with his son Giovanni now at the helm. MV Agusta recently started development of a series of three- cylinder machines to match its long-standing heritage with the triple engine configuration and has seen some success in the World Supersport arena with Frenchman Jules Cluzel taking a number of WSS wins on the beautiful F3 675. It's been a more trying time in Superbike, with Leon Camier on the four- cylinder F4 now in his second full year with the company and in a seemingly constant struggle to match the speed of Ducati and the Japanese manufacturers. MV Agusta recently launched the Turismo Veloce 800 sport- touring machine in an effort to expand their predominantly sport- and naked-bike-based lineup, with an adventure ma- chine also rumored to be com- ing late this year. This, however, now seems on the back burner as Castiglioni fights to save what is left of his company, and the jobs of his workers. CN They create some of the most beautiful bikes on the planet but financial strife has never been far from MV Agusta's doors. DANI RIVAS CUP LAUNCHED T he Dani Rivas Cup has been launched by his father Willy Rivas. Rivas was tragically killed during the MotoAmerica Superbike race that ran as a support to the WorldSBK title at Laguna Seca on July 19 last year in an accident that also claimed the life of fellow Spaniard Bernat Martinez. The objective of the Dani Rivas Cup is to train and promote promising young talents in motorcy- cling by providing access to the sport with minimal cost and mechanical equality. Riders must be aged between six and 11 years old to compete in the Cup, which will take place over five circuits in both Spain and Portugal. A trial process will begin on May 28-29, with the final votes as to who gets in given to Grand Prix riders Aleix and Pol Espar- garo and Julian Simon. The Dani Rivas Cup will also monitor the school performance of its participants to ensure all rider maintain and improve their grades. Failure to pass a subject could end in less track time for the rid- ers, pushing them to work hard both on and off the track. CN