Moore was disappointed with some of the comments made by O'Kane regarding his decision to pull out and believes the whole situation could have been handled better.

"It is a very sad occasion for motorcycling as Mr O'Kane was a long-time sponsor, and at times a very good sponsor, of the sport," Moore told the BBC.

"I feel sorry for the two riders who could be left without machinery for next season - the whole situation could have been handled better.

"We knew Mr O'Kane was unhappy with certain things at the Ulster Grand Prix.

"He told me on the Wednesday before the event that he would no longer be involving himself in the sport because of how he felt he was treated.

"But the riders were able to solve their disputes and I wish O'Kane could have done the same."

Moore was also keen to refute some of the accusations made by O'Kane about the poor state of the sport of motorcycling.

The Garvagh businessman claimed the sport had "gone down the plug hole big time" and that he was forced to pay admission fees to watch his own machines compete.

But Moore strongly rejected such allegations.

"For him to say that he had to pay into races is ridiculous," Moore added.

"He has an international entrance licence which allows him to get into all international events so what he has said is nonsense.

"And at the Ulster Grand Prix we had one of our biggest crowds watching and all the top riders were there.

"So for him to criticise the sport the way he has is just a knee-jerk reaction and he will probably come to regret it later."

Moore does not rule O'Kane out of making a return to the sport as he has withdrawn sponsorship and come back before.