KTM Sells Majority Stake Back To MV Agusta
Sardov family reacquires control from KTM and regains independence.

Iconic Italian brand MV Agusta has announced its official return to independence after an end-of-January deal resulted in a plan for KTM’s 50.1 percent majority stake to be sold back to its previous owner, the Sardarov family-owned Art of Mobility S.A.
Although the detailed terms of the agreement have not been disclosed, Pierer Mobility AG (KTM’s parent company) noted that the transaction had an “enterprise value in the mid-double-digit million range,” which reflects the combined market value of the stake, any outstanding debt, and adjustments for available cash.
This move, pending regulatory approval before the end of the first half of 2025, helps insulate the high-end motorcycle brand from KTM’s financial troubles and restructuring as it navigates insolvency proceedings.

Timur Sardarov, CEO of Art of Mobility, confirmed his company’s return to independence, stating, “Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence.”
The deal took place in the wake of KTM CEO Stefan Pierer stepping down, with Gottfried Neumeister taking the helm as the company grapples with creditor claims amounting to €2.2 billion. In a surprising twist, MV Agusta appears to have not only escaped unscathed but emerged stronger than it was before the buyout.
In 2024, the Euro-exotic brand famous for its innovation and craftsmanship sold 4,000 motorcycles, marking an impressive 116 percent year-over-year growth. It also reported it had its strongest year ever for parts sales, achieving a 99 percent parts availability rate for MV Agusta models produced within the past seven years, a significant milestone that underscores the brand’s commitment to supporting its small batch lineup and customer base.

Sardarov’s statement underscored his confidence in MV Agusta’s leadership team and a solid dealer network that consists of 219 active sales points and 41 service centers, with plans to expand its footprint to 270 locations by the end of 2025. The statement adds that 20 non-European importers in MV’s distribution network will play a vital role in the company’s growth-oriented future.
It was a brief coupling for MV Agusta and KTM, a relationship that began in September 2022, when the two companies agreed that KTM would use its well-established dealer network to distribute MV Agusta motorcycles in North America. Just two months later, KTM gained a 25.1 percent stake in the company via an initial capital increase, and by March 2024 it had exercised an option to become the brand’s controlling partner, owning a 50.1 percent share.
By mid-2024, the significance of KTM’s financial troubles had become clear, and the company entered emergency debt restructuring proceedings a few months later. Pierer officially announced plans to sell MV Agusta in December.

For adventure riders, the hope will be that MV Agusta’s strong stance and bold ambitions carry over to its recent endeavor into the adventure segment, where it made a splash with its 931cc triple-powered Enduro Veloce in 2024. As a premium European offering with a 21” front wheel, the Veloce’s closest competitors are the Ducati DesertX, Triumph Tiger 900 Rally Pro and Husqvarna Norden 901 Expedition.
While many are quick to assume it was KTM’s involvement with the Italian brand that triggered its move into the adventure arena, that’s not the case. The development of the Enduro Veloce began under Timur Sardarov’s leadership as part of a broader strategy to diversify MV Agusta’s lineup beyond its traditional sportbikes and naked bikes.
In fact, the groundwork for this expansion was laid out well before KTM entered the picture, as evidenced by the Lucky Explorer 9.5, unveiled in 2021 as the fully-formed prototype that would become Enduro Veloce.
The family-owned model has deep roots with the Italian manufacturer, dating back to the Agusta family, who launched the brand in 1945 as an offshoot of their aeronautics venture. The next family to take the helm was Italy’s Castiglionis, owners at the time of Cagiva, who revived MV Agusta in the 1990s. MV Agusta was briefly owned by Harley-Davidson, though control returned to the Castiglioni family in 2010 after Harley faced financial troubles following the Great Recession — and yes, the latest reversal feels like MV Agusta’s history repeating itself.

Timur Sardarov, well-known to be a motorcycle enthusiast, first became involved with MV Agusta in 2016 through his investment firm, ComSar Invest, which is part of the Russian Sardarov family’s business interests. At the time, MV Agusta was facing significant financial difficulties, struggling with debt and operational challenges following its split from Mercedes-AMG, which briefly held a minority stake.
Between 2017 and 2018, Timur Sardarov’s influence grew through strategic investments that supported the company’s recovery and positioned him as a key decision-maker. In 2019, he officially became CEO, marking the transition of leadership from the Castiglioni family to the Sardarov family under their holding company, Art of Mobility S.A.
As CEO, Sardarov focused on modernizing the brand, expanding its product lineup, and strengthening its financial stability, which included the gradual merge with then-golden goose Pierer Mobility. He has also maintained that MV Agusta will protect its authenticity and that 100 percent of its operations will remain in Varese, Italy.
According to Sardarov’s statement, MV Agusta has significantly strengthened its processes, systems, and workforce over the past two years despite KTM’s decline. “These structural changes are the foundation of the extraordinary results achieved in 2024 and will continue to drive our success in the years to come.”
Photos by MV Agusta and Kevin Wing
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A good ending to the “SAGA”.
It’s good to see small manufacturers survive!
This is a positive move for MV Agusta in the short term, providing stability and potential synergies.
However, for long-term success, MV Agusta must align with a major motorcycle OEM to optimize industrialization costs, streamline spare parts and sourcing expenses, and expand its global sales footprint—whether through dedicated showrooms or multi-brand dealerships. A strong strategic partnership will be essential to ensuring sustainable growth and competitiveness in the evolving motorcycle market.
I hence foresee another movement in the next 3 years.