Team Hero EBR has announced it is withdrawing from the World Superbike Championship following the bankruptcy of Erik Buell Racing earlier this month.

The first American motorcycle manufacturer to enter World Superbikes, though the outfit endured a tough maiden campaign in 2014, a reorganisation over the winter - which saw Larry Pegram come in as team manager-rider and former MotoGP contender Niccolo Canepa lead riding duties - had already yielded eye-catching improvements.

However, the news that Erik Buell Racing had filed for bankruptcy earlier this month would put the team's WSBK presence in peril and though there were initial assurances that EBR's parent company - Hero - would help it see out the season, the Indian conglomerate has now decided to reprioritise its efforts, leading to its withdrawal.

"This is a really hard pill for us all at Pegram Racing to swallow, as we always live by the philosophy of Never Give Up" Pegram said. "The whole team did an amazing job of improving results from last year and giving some pride back to EBR and Hero.

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"Niccolo Canepa was riding like the Champion he is, he was literally making peoples jaw drop at what he was doing with our motorcycle. I am so proud of the job he did. One thing for sure Pegram Racing will be back and it will be sooner than you think."

"We have worked closely with them and not only appreciate how amazing it was to have a true American Superbike to ride, but how intensely hard that small group of employees at EBR worked to build the EBR bikes, and also support our racing program and other racers. We are hoping they too will return soon. They deserve to continue."