Gresini admits Moto2 funding issue

Fausto Gresini has denied he is contemplating pulling the plug on his new Moto2 team.

Gresini was due to run two bikes designed and built by Japanese tuning specialists Moriwaki in 250cc two-stroke replacement class.

He had held lengthy talks with new World Supersport champion Cal Crutchlow and made a recent swoop for highly-rated British teenager Bradley Smith.

The Italian though has denied having second thoughts about his Moto2 squad, with a lack of funding casting doubt over the project.

Gresini said: “It is my intention to be in Moto2, but at the moment I’ve not fixed the budget and it is proving very difficult.”

LCR Honda MotoGP boss Lucio Cecchinello also abandoned plans to run in Moto2 because of budget constraints.