Interpublic, the parent group of ailing motorsports promoter Octagon has agreed to return its interest in the World Superbike Championship and its supporting classes to the Flammini brothers, who ran it by themselves until four years ago.

The company has already suggested that it is prepared to sell off the British race circuits previously owned by Brands Hatch Leisure - and has rebranded its interest in them to incorporate the Kent circuit's name - and has now off-loaded the superbike series as it attempts to balance its books.

The decision to return the various two-wheeled series to their previous 'owner' was announced in a statement released late last night [Tuesday].

"I am pleased to inform you that the Interpublic Group of Companies [IPG] has transferred to our group its entire interest in the Octagon Motorsports joint venture initially constituted with them," Maurizio Flammini confirmed.

"All our championships - World Superbike, World Supersport, European Superstock and World Endurance, as well as various interesting new projects we are currently developing, will be managed independently from now onwards, by our group.

"Our motorsports holding company has been re-branded as FGSportsGroup, and is ready for developing new and exciting international business challenges, in our beloved world of motorsports to which we have all dedicated unending energy since the beginning of the 80's. I hope I will soon have the chance to meet you personally and speak about our new project.

"Our partnership with Interpublic has been highly successful and their support has been fundamental in establishing the Superbike Series on the world stage, particularly with regards to international sports marketing. We really look forward to putting much of our learning in to practice over the next development stage of the World Superbike Series."

"The championship has grown from strength to strength and we are proud of our association with the series to date," Interpublic's Doug Augustine explained, "The future of the series looks bright and secure with the Flammini brothers remaining at the helm."

 

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