Kymi Ring Events oy failed to pay the millions demanded by Moto GP owner Dorna Sports.
The district court has declared Kymi Ring’s subsidiary bankrupt, reports Etelä-Suomen Sanomat. Ten companies called Ring Events filed for bankruptcy, Dorna Sports, which owns the rights to the Moto GP race.
Dorna inherited 6.4 million euros from Kymi Ring Events based on the promotion contract signed in 2021.
The Moto GP race was supposed to be held in Iiti in the summer of 2022, but it was canceled due to the shortcomings of the venue. The parent company Kymi Ring has applied for corporate restructuring.
*The story has been edited on 3.11. 6:33 a.m.: Corrected the year of the canceled race in the caption to 2022.*