Guenther Steiner has bought Red Bull KTM Tech3 and announced his new deal with Hervé Poncharal at the Catalan Grand Prix.

At the Catalan Grand Prix, it was announced that the Red Bull KTM Tech3 squad has been sold to Guenther Steiner and his investment group.

In an extraordinary press conference at the Circuit de Barcelona - Catalunya, the former Director of Haas in the Former One World Championship was announced as the new team owner.

"This is a fantastic opportunity," said Guenther Steiner.

"Tech3 is a great team with a huge amount of potential and an impressive legacy. Herve's impact on the team and MotoGP itself cannot be overstated, and we’re honoured to take over and keep building on those foundations.

"We’re excited to become part of the MotoGP paddock and maximise the potential of the team and the sport as it continues to grow, helping to bring it to new audiences."

"This is the end of an era, but also the beginning of an exciting one for all of us," said Poncharal.

"I’m very proud of everything we’ve achieved since Tech3 was born, winning MotoGP races and taking so many podiums, as well as what we have built over these decades with all the people we crossed paths with.

"When Guenther approached me with an interest in the team, it seemed to fall into place as the perfect moment to make this change. I know that Guenther will lead the team with direction, ambition, and integrity – not forgetting that little bit of rock’n’roll spirit it was founded on.

"Tech3 will be in good hands to help it grow even more in this new era for MotoGP."