Photo: motorcycledaily.com
Erik Buell Racing was not sold during the most recent auction round, the second after the company entered receivership. Last Thursday, EBR went once more under the hammer, as the winner of the previous auction failed to show the money.
In mid-November, we learned that Bruce Belfer and his Atlantic Metals Group LLC failed to close the deal after they could not secure $2.25 million to pay for the Erik Buell Racing assets Hero MotoCorp left behind.
Unable to actually sell EBR, the attorney in charge of the company receivership sought another date for an auction, and the court set it for December 10, 2016. A&R, who seem to be close to the subject, reports that not even the December 10 auction was concluded, as the winning bid for what is left of EBR was contested.
Another date was set for the next sale attempt, on January 14, 2016, and with the 4th of next month set as the deadline for submitting the formal motions. In case you thought that the destiny of EBR was turning into the funny lane, these new events should add to this feeling.
It is, however, sad to see a company like Erik Buell Racing unable to look appealing enough to secure a fraction of what they hoped to sell for.
And with more time passing, the gross value of EBR will only decline into derision, until there is nothing left from it but the name and the badge on the tank. It will be sad to see a small manufacturer getting hold of EBR and selling scooters in Asia under the name, definitely a painful and dreadful sight for the fans of the brand and for those who are still riding EBR bikes.
Maybe it's time now for Polaris to finally step in and buy themselves a nice sporty sub-brand. After all, they are heading this way, more or less with the new Victory liquid-cooled engine...
Unable to actually sell EBR, the attorney in charge of the company receivership sought another date for an auction, and the court set it for December 10, 2016. A&R, who seem to be close to the subject, reports that not even the December 10 auction was concluded, as the winning bid for what is left of EBR was contested.
Another date was set for the next sale attempt, on January 14, 2016, and with the 4th of next month set as the deadline for submitting the formal motions. In case you thought that the destiny of EBR was turning into the funny lane, these new events should add to this feeling.
It is, however, sad to see a company like Erik Buell Racing unable to look appealing enough to secure a fraction of what they hoped to sell for.
And with more time passing, the gross value of EBR will only decline into derision, until there is nothing left from it but the name and the badge on the tank. It will be sad to see a small manufacturer getting hold of EBR and selling scooters in Asia under the name, definitely a painful and dreadful sight for the fans of the brand and for those who are still riding EBR bikes.
Maybe it's time now for Polaris to finally step in and buy themselves a nice sporty sub-brand. After all, they are heading this way, more or less with the new Victory liquid-cooled engine...
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