Motorsport giants file for insolvency with 3billion debt despite Lewis Hamilton’s offer to buy team [Video]

All is not well in the world of MotoGP, despite Formula 1’s owners paying an astonishing €4.2billion (£3.3bn) to purchase the sport.

And that could have ramifications for F1 icon Lewis Hamilton, who has already expressed his interest in buying his way into the greatest show on two wheels.

KTM, one of just five MotoGP manufacturers, have now paused development on their bikes a week after filing for insolvency, as per motorsport.com.

The Austrian brand has a reported debt of €3bn (£2.5bn) and is trying to avoid bankruptcy.

The news comes eight months after Liberty Media, the owners of F1, announced their mega money acquisition of MotoGP.

The American business first bought F1 in 2016 for $4.6bn and have seen extraordinary growth with Forbes recently rating the sport at the $17bn mark, adding that their empire of companies is the most valuable in the world.

The …