Italian Investment Firm Trying to Buy Ducati Confirms Ducati Isn't For Sale

The fact Ducati isn't for sale hasn't slowed Patritalia down, however.

Photo by: Ducati

By: Jonathon Klein

Aug 4, at 7:00am ET

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Recent reports claimed that Patritalia S.p.A., an investment firm based in Italy and headed by CEO Manuel Ros, put in a "competitive bid" to purchase Ducati Motor Holdings, S.p.A. from its parent companies, Audi and Volkswagen. However, it couldn't be confirmed that anything had actually transpired, as the only on-the-record source for the alleged offer was RideApart's correspondence with Manuel Ros himself.

Ros continued and claimed that his company had spoken with Volkswagen Group executives, telling RideApart, "When discussions take place at this level, they are conducted exclusively with the highest levels of management. These are not conversations with ordinary executives, but with the top decision-makers throughout the organisation."

RideApart sent a host of questions to Audi, Volkswagen, and Ducati about the alleged offer, the current status of a possible sale of the company, and a number of points made by Ros. Both Audi and Volkswagen representatives only replied with, "Ducati is a strong and successful company. Portfolio reviews are part of responsible Group management. No decision has currently been taken regarding a sale of Ducati."

After the publication of our conversation with Ros, Ducati's North American CEO Jason Chinook responded, stating, "I am not aware of any offer that has been made to the [Volkswagen] Group." This echoed prior statements by Ducati's Global CEO Claudio Domenicali, who told the press "[Ducati] is also completely self-standing."

Nothing, then, could be confirmed.

But the alleged nature of the purported bid has taken a turn, as Patritalia S.p.A. recently sent out a letter to journalists and interested parties that allegedly proves it not only sent an offer to purchase 100% of Ducati Motor Holdings, S.p.A. from Volkswagen Group, but that it had spoken to someone within the Group with decision-making power, and they responded to Patritalia S.p.A.'s offer of 2.5 billion euros for Ducati. However, while the screenshots of the alleged emails state Volkswagen Group did receive an offer, and that Volkswagen responded to said letter, an included reply from Patritalia S.p.A. to an Audi executive emphatically states that Ducati isn't actually for sale.

That, however, hasn't stopped Patritalia S.p.A. from continuing its push to acquire the brand.

Patritalia S.p.A.'s press release starts with, "Please find attached the official press release issued by Patritalia S.p.A., together with the supporting documentation which, according to the Company, evidences the transmission of its proposal to acquire 100% of the share capital of Ducati Motor Holding S.p.A. to the competent representatives of the Audi, Volkswagen, as well as Lamborghini and Ducati."

It adds, "The decision to make this documentation public has been taken following the publication of media reports and statements which, in the Company's opinion, do not accurately reflect the facts or contain assertions that are not supported by the actual events and the documentation available. Patritalia S.p.A.'s intention is neither to fuel media attention nor to seek publicity. On the contrary, the Company would have preferred that the entire initiative remain confidential. However, given the considerable public attention the matter has attracted, we believe it is appropriate to make the relevant documentary evidence available so that any assessment may be based on verifiable facts."

To prove the assertion that Patritalia S.p.A. did indeed send an offer to purchase Ducati, Patritalia S.p.A. included a number of screenshots of alleged emails to and with Volkswagen Group representatives. The first screenshot, however, states that Patritalia S.p.A. received a letter from someone within the Group that relayed that Ducati was, in fact, not for sale.

Photo by: RideApart.com

In an email dated June 25, 2026, Ros allegedly replies to an earlier email from Volkswagen Group declining Patritalia S.p.A.'s offer of 2.5 billion euros, stating, "We fully acknowledge and understand your position that Ducati Motor Holding S.p.A. is currently not for sale," emphasis RideApart, "Nevertheless, we had hoped that a prestigious and internationally respected group such as Audi AG might be willing to reflect upon a potential divestment should a sufficiently attractive proposal be presented. Accordingly, Patritalia S.p.A. hereby confirms its formal interest in acquiring one hundred percent (100%) of the share capital of Ducati Motor Holding S.p.A. a n d is pleased to s u b m i t a n indicative offer in t h e a m o u n t of EUR 2,500,000,000 (Two Billion Five Hundred Million Euro) payable entirely in cash upon execution of the definitive Share Purchase Agreement and transfer of ownership. For the avoidance of doubt, we wish to clarify that our proposal represents EUR 2.5 billion net to Audi AG and is intended solely as consideration for the transfer of the shares of Ducati Motor Holding S.p.A."

Patritalia S.p.A.'s press release also included screenshots of the prior emails, indicating that Volkswagen representatives took receipt of the investment company's initial interest in purchasing Ducati, something that couldn't be confirmed in prior reporting. According to the screenshots, in which an attempt at redacting email and names was made, Audi's Head of Group Corporate Finance, Mergers and Acquisitions, Paschalis Harakopidis, responded to the original email of Patritalia S.p.A.'s interest, with an attached note. That note, however, was not included in Patritalia S.p.A.'s evidence. However, if the screenshots' dates are accurate and the communications are to be believed, it seems that Harakopidis relayed that Ducati was not for sale.

CC'd on that alleged email also appears to include Global Ducati CEO Claudio Domenicali,too. The original statement of interest in acquiring Ducati from Volkswagen Group appears to also include Lamborghini's CEO Stephan Winkelmann, Audi CEO Gernot Döllner, and Volkswagen's CEO Oliver Blume.

Photo by: RideApart.com

RideApart once again reached out to Volkswagen, Audi, and Ducati representatives for clarification on a number of assertions that Patritalia S.p.A. made within the press release, including calling into question prior reporting, as well the reality of the situation. We attached the press release so as representatives could see the statements made by the investment firm, and included the the following questions:

Did Patritalia S.p.A. make an offer of 2.5 billion euros?
Did an Audi/Ducati/VAG representative receive said offer, as Patritalia S.p.A claims, which is purported to be Audi's Head of Group Corporate Finance, Mergers and Acquisitions, Paschalis Harakopidis?
In that effect, Patritalia S.p.A's return email states that "We fully acknowledge and understand your position that Ducati Motor Holding, S.p.A. is currently not for sale." Was that what was communicated?
Based on the purported contents within Patritalia S.p.A's document setting the record straight, in one email correspondence with Harakopidis, he states that there's "attached" response. What was that attached response?
Has there been any further response to Patritalia since those purported dated communications?

RideApart received separately from both Ducati and Audi the following same statement: "Ducati is a strong and successful company. Portfolio reviews are part of responsible Group management. No decision has currently been taken regarding a sale of Ducati. In general, we do not comment on individual offers." This is what both brands stated when the story originally broke. It did not answer any of our questions, however.

Yet, even though Patritalia S.p.A. was allegedly told that Ducati was not for sale, which it confirmed itself through the release of these screenshots, that hasn't stopped the company from continuing its campaign to purchase it from Volkswagen Group. Nor has its desire for an all-Italian Ducati.

Social media posts made by Ros on Facebook, Instagram, and LinkedIn include AI-generated pictures of Ducati racing motorcycles for MotoGP, Moto3, and Moto2 wearing Patritalia S.p.A. liveries, as well as statements that anyone representing Ducati in those fields should be Italian only. Translated from Ros' post, he states, "Consistent with [Patritalia S.p.A.'s] vision, all Ducatis deployed in the World Championship, as in the lower categories and championships, passing from Moto3 to Moto2 up to MotoGP, will be entrusted exclusively to Italian riders. Because Ducati is a symbol of Italy. And if Ducati represents Italy, it is right that it is the Italian riders who bring the colors to the world and drive it."

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Ducati's current MotoGP champion, and favorite to win this year's championship at present, Marc Marquez, is Spanish and would thereby be precluded from riding for the Borgo Panigale company. As would soon-to-be teammate Pedro Acosta.

If and when we receive any more concrete information provided by Ducati, Audi, Volkswagen, or Patritalia S.p.A., we'll update our reporting. But based on the press release from Patritalia S.p.A., Ducati isn't for sale, despite the company's want for it to be.