Erik Buell Racing auction scheduled for 21st July

Erik Buell Racing is experiencing a downfall as after the saddening news of filing bankruptcy, the company has now announced that its auction is on 21st July. It is pretty shocking that even after selling 49 percent stake to Hero MotoCorp, EBR is going through such a delicate phase. The sale is going to take place in a bidding process and plenty of potential buyers are expected to be there at the event. Scheduled for 23rd July, all bids are subject to court approval.

EBR’s Facebook status states: “To be clear, this sale is not a selling off of individual pieces, but as it states in the court documents, it is selling off in large blocks as an ongoing concern sale.”

Also there is hope within, as there is a comment from them saying, “The brand name is in the lot of intangible assets and intellectual property. The assets have to be broken into segments like this by law, but it is a going concern auction and a number of bidders are coming with the intention to buy all the lots necessary to move the company forward again. The outcome is of course unknown, but it actually looks very good to us.”

It would be a huge story for the motorcycling world history as EBR will be counting on the new owner to make a big difference and to help it earn back the lost pride. However, Hero MotoCorp being a big part of the team might buy its whole lot and bring it back to life.