Post by BADGER on Sept 29, 2007 21:03:31 GMT
Foggy Racing will not return to World Superbikes next year after failing to raise a budget to compete in the championship.
Team owner Carl Fogarty had signed a provisional agreement with legenadary manufacturer MV Agusta in May to compete in 2008.
But, with sponsors for the team not forthcoming, Fogarty, the most successful rider in WSBK history with four world titles and 59 wins, has had to accept defeat in his quest to bring the Italian manufacturer into Superbike racing.
Fogarty said: "Everyone knows that this is a difficult time for motorcycle sponsorship. However, we hoped that the combination of my team with an iconic brand such as MV Agusta would have been an attractive proposition for potential sponsors both in the UK and abroad.
"Regrettably, despite the enormous excitement generated amongst motorcycle fans, this has not proved to be the case, leading us to the conclusion that the market will not support a professionally-run outfit of our size without significant financial input from a manufacturer.
"So I have decided to bring this chapter of my career to an end by putting our state-of-the-art facility at Burton, our race trailer and hospitality unit up for sale."
After a crash at Phillip Island in 2000 ended his career prematurely, Fogarty, 42, had run a pair of his own bikes, backed by fuel supplier Petronas, from 2003 to 2006 before the sponsor decided to quit the sport.
He failed in his bid to run a pair of ex-works Ducatis this season and has now turned his attention to business efforts outside of motorcycling following this latest blow.
Fogarty's announcement means that MV Agusta are now likely to complete a deal with Kenny Roberts' squad for next year, which would see the KR team switching over from Moto GP and probably employing his son Kenny Jr as number one rider.
Team owner Carl Fogarty had signed a provisional agreement with legenadary manufacturer MV Agusta in May to compete in 2008.
But, with sponsors for the team not forthcoming, Fogarty, the most successful rider in WSBK history with four world titles and 59 wins, has had to accept defeat in his quest to bring the Italian manufacturer into Superbike racing.
Fogarty said: "Everyone knows that this is a difficult time for motorcycle sponsorship. However, we hoped that the combination of my team with an iconic brand such as MV Agusta would have been an attractive proposition for potential sponsors both in the UK and abroad.
"Regrettably, despite the enormous excitement generated amongst motorcycle fans, this has not proved to be the case, leading us to the conclusion that the market will not support a professionally-run outfit of our size without significant financial input from a manufacturer.
"So I have decided to bring this chapter of my career to an end by putting our state-of-the-art facility at Burton, our race trailer and hospitality unit up for sale."
After a crash at Phillip Island in 2000 ended his career prematurely, Fogarty, 42, had run a pair of his own bikes, backed by fuel supplier Petronas, from 2003 to 2006 before the sponsor decided to quit the sport.
He failed in his bid to run a pair of ex-works Ducatis this season and has now turned his attention to business efforts outside of motorcycling following this latest blow.
Fogarty's announcement means that MV Agusta are now likely to complete a deal with Kenny Roberts' squad for next year, which would see the KR team switching over from Moto GP and probably employing his son Kenny Jr as number one rider.