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Hero MotorCorp Buys Half of Erik Buell Racing

According to a press release from Hero MotorCorp, the U.S. arm of Hero, HMCL (NA), has agreed to purchase 49.2% of Erik Buell Racing for $25 million. HMCL (NA) is said to have transferred $15 million to EBR with the remaining $10 million to be paid within the next nine months. Hero says it will have two members and one observer sitting on the EBR board of directors but Erik Buell will continue as Chairman and CEO of the company.

FIM Eases WSBK Homologation Requirements

With the 2014 World Superbike Championship now under way, the International Motorcycling Federation (FIM) announced a change in the homologation procedure for new motorcycles entering the series. The new regulations requires a minimum of 125 units produced in order to begin the homologation process. By the end of the first year of participation, manufacturers must have produced 250 units.

Erik Buell Racing Secures $20 Million in Foreign Investments

Erik Buell Racing has received a $20 million injection from investors. The increased funding is expected to expand the company’s product line and create about 200 jobs. The investment comes through the somewhat fittingly-named “EB-5” program, a product of the Immigrant Act of 1990 designed to encourage investment in American companies by potential immigrants.