What Will This Mean for the Company?
Norton is a well-known name in the motorcycling world. Recently the company was poised to turn to crowdfunding for investors so that it could expand its operations and do some cool things in the future. The company wanted investors and saw crowdfunding as a way to get them, but that idea was short-lived. It seems that now the company was able to find one single investor, according to MoreBikes.
This is obviously a preferable option for the company. I just have one question, though, who is it? MoreBikes reported that the investor is anonymous at this point. Norton released a statement announcing that it found the investor but did not say who it was.
In the statement, the company said, “This individual is already a fan of Norton and a motorcycle enthusiast, which means the brand and it’s community are a focus.”
That sounds like a good thing. It’ll be interesting to see where Norton goes with this. I would love to see some more bikes from the company and watch this British brand rise and be an important part of the industry again.
It’s Keanu. Bet you a box of doughnuts.
That wouldn’t be so bad.
Love the old Nortons. Had a ’75 Interstate back in the day.
ACE
Norton needs more retail outlets, then they could make more money and would not need outside investment. Even here in Britain it is difficult to buy one.
Jay leno for sure.
Norton is a joke. Just do a little research and you’ll find stories of brand new bikes that dont work, customer service nightmares, and an owner that’s missing in action. Or take a look at the comprehensive list of world wide dealerships on there web page. Just dont expect to actually find a brick and mortar shop. Want a test ride, book a flight to England.
Hopefully, all that stuff will change with the new investor. I’ve never ridden one of these bikes, but I have heard plenty of negative things. They’re darn cool-looking, though, so I’m hoping this makes the company far better.
I’d be surprised if it were either Reeves or Leno, but in a pleasant way.
What your article fails to mention, but is extremely important to all of this is that Norton, corporately, and its founder/CEO Garner, are in significant trouble financially and legally.
Whoever the investor is would/should have known of this and should have taken a percentage ownership position to protect themselves.
The Norton Pension Plan is in a serious position of being delinquent on providing funds to meet its obligations and liabilities.
Garner has been removed from his position of oversight of the Fund and the courts and government regulators have appointed someone else.
Form the reporting that I’ve seen to-date, it is too early to tell the extent of the problems, but I suspect that is known by those involved and just not being reported.
I truly hope this is only a “bump in the road” for a brand and bike that I have great affection for. In late 1973 I bought a, “Black-n-Gold” ’73 850 Commando and today have 1970 750, and 1973 850 Commandos. They’re close to my heart and I truly want them to survive. When I see their troubles and contrast that with what Triumph have accomplished, it gives me cause for concern.