(Reuters) -A consortium led by the former Haas F1 team principal Guenther Steiner will acquire full ownership of the Red Bull KTM Tech3 MotoGP team, with the new structure to take full effect in 2026, the team announced on Friday.

Steiner will assume the role of CEO while project partner Richard Coleman will become the team principal.

The team's founder and current team principal Herve Poncharal will continue to lead the team through the 2025 campaign before he transitions to a consultant role.

The Tech3 team will continue to compete with KTM machinery as per their current agreements while they will also retain their base in Bormes-les-Mimosas, France.

(Reporting by Rohith Nair in BengaluruEditing by Toby Davis)