Team Hero EBR, the FIM Superbike World Championship team fielding American Larry Pegram and Italian Niccolo Canepa, will learn its fate on Thursday, April 30, according to Team Manager/Rider Pegram.

“I will tell you it doesn’t look very good,” Pegram told Roadracingworld.com Wednesday, “but we have one more thing we’re gonna try. If it doesn’t happen then we’re probably gonna pull out of Imola for sure and try to get back for Donington [Park]. Basically, I’ll know tomorrow whether we’re pulling out or not. Our deadline is tomorrow on stuff.”

Team Hero EBR ran into trouble when Erik Buell Racing (EBR) fell into receivership, the equivalent of bankruptcy, earlier this month. And with Hero a minority owner in EBR and a primary sponsor of the team, their continued participation is uncertain.

Team Hero EBR’s American mechanics have already started making contacts looking for new jobs in the American racing community.

Pegram said his team’s future is based solely on finances and not the supply of parts for his EBR 1190RX Superbikes, even though EBR is currently shut down.