CryptoDATA RNF releases statement, denies debts, ‘rejected takeover offer’
“It has been an amazing run,” Razali wrote on his Facebook page. “A once in a lifetime opportunity to manage and own a MotoGP Team in the World Championship."
After praising various Sepang/RNF riders, Razali added: “What lies ahead? It will be another beginning albeit a different one and I shall watch with the greatest encouragement and excitement. Let’s go team!”
Razali's exit further fuelled rumours that American investors linked to NASCAR are in discussions with MotoGP to take over the RNF grid places for 2024.
But the CryptoDATA RNF statement insists the team (60% owned by CrytoDATA and 40% by Razali) continues to have a contract to participate in MotoGP until 2026, as well as a ‘valid contract’ with Aprilia and ‘does not have any debts or disputes with its suppliers’.
Aprilia not only supplies RNF with machinery but holds the contracts with its riders Miguel Oliveira and Raul Fernandez, as well as supplying some factory staff.
The statement does confirm that RNF ‘received an offer for the place on the grid.. however this offer was rejected officially more than 2 weeks ago and since then no other negotiation was initiated’.
Finally, the statement (in full below) claims that ‘The decision for Razlan Razali not to be part of the RNF Team management was not only from yesterday, but was taken more than 1 month ago, due the pressure made by the shareholders following poor performance and financial decisions.’
CrytoDATA joined forces with RNF, and became the majority shareholder, almost exactly a year ago.
Razali founded RNF after Petronas pulled the plug on the previous multi-race-winning Yamaha Sepang MotoGP project (2019-2021), which the Malaysian initially ran alongside his role as CEO of the racing circuit. After a debut year with Yamaha, RNF switched its allegiance to Aprilia for 2023.
“There are many speculations in the press about the CryptoDATA RNF MotoGP Team and because of this we want to provide clarifications through this official press release.
“One thing is clear - CryptoDATA RNF MotoGP Team has a contract for participation in the MotoGP Championships that is valid until 2026 which was assigned from Sepang Racing Team. This contract has very clear terms and conditions and until now we have not even been notified about a breach of a contractual obligation. Even more, we did not receive a termination notice of this contract.
“Moreover, RNF has a valid contract with Aprilia and we did not receive a notice to terminate this contract as well. The speculations with respect to the quality of the parts for motorcycles provided by Aprilia due to “alleged” debts are false. There are no debts towards Aprilia and all amounts are settled since earlier this year. Also, in addition to what was in the contract, we have agreed to additional mechanics and carried out with fulfilling the extra costs.
“It’s true that RNF had received an offer for the place on the grid, in Madrid at DORNA Office, however this offer was rejected officially more than 2 weeks ago and since then no other negotiation was initiated. The CryptoDATA RNF MotoGP Team does not have any debts or disputes with its suppliers and all the activity is carried out according to the business plan and according to the contractual terms with the suppliers.
“The RNF Team is still owned 60% by CDT SPORTS AND MEDIA SRL and 40% by Razlan Razali. The company RNF Racing Ltd. is subject to an internal audit by the majority shareholder (CDT) to review the internal processes and the activity of the employees. The changes in the management of the team will come with certainty as this was a transition year and after the audit we will put into place optimization processes of the human resources in order to implement the strategy with tactics to obtain performance in the team.
“The decision for Razlan Razali not to be part of the RNF Team management was not only from yesterday, but was taken more than 1 month ago, due the pressure made by the shareholders following poor performance and financial decisions.”
