ITR, the parent company of DTM, will cease to exist and will not carry on as promoter of the longstanding German series.
As previously reported by Sportscar365, DTM’s future had been up in doubt amidst negotiations between ITR and ADAC about a potential takeover of the championship.
The Munich-based promoter is now set to close its doors. The 17 employees of ITR have been informed that the company will be “dissolved in an orderly manner.”
In a statement supplied to Sportscar365, company chairman Gerhard Berger states that talks with ADAC remain ongoing even as the closure is confirmed.
“The discussions with ADAC are very constructive, but there is no final decision yet,” said Berger.
“However, since we have the entrepreneurial responsibility, we had to create clarity now. We have decided that ITR will no longer promote the DTM in 2023.”
Berger added that the motivations behind the decision are of a financial nature, but stressed that the championship could survive under new ownership.
“Against the backdrop of the given general conditions and in view of the numerous challenges, the economic risk for next year is too high,” the Austrian said.
“I personally regret this very much, because the entire team has worked very hard for the success of the DTM.
“But: even without ITR, there can be a future for the DTM brand at ADAC. That’s why we are still in dialogue with the ADAC.”
Berger had overseen the series since 2017, when he was named ITR chairman replacing Hans Werner Aufrecht.
Under the Austrian’s leadership, DTM introduced a GT3 ruleset that resulted in an increased number of teams and manufacturers joining the series, which proved to be a turnaround following a period of decline through the COVID-19 pandemic.