While it’s not known if they took the extended warranty or not, a buyer has been named for the most curious motorcycle asset Harley-Davidson has ever owned.

Ending speculation and rumors, the Milwaukee motorcycle manufacturer announced it has sold its MV Agusta brand, officially as of lunchtime on Friday.

The buyers? Certainly no stranger to the brand, Claudio Castiglioni and his wholly owned holding company, MV Agusta Motor Holding, S.r.l., are the proud owners of the other Italian motorcycle manufacturer. Not only has Castiglioni served as MV Agusta’s chairman since Harley-Davidson acquired the company in 2008, but he was the former owner of the Italian motorcycle maker.

Rumors have swirled around the motorcycle community on who would make a successful offer for the maker of performance sportbikes since Harley-Davidson first started shedding subsidiaries faster than old plumage in 2009.

BMW, private equity firms and even fellow Italians Paul Berlusconi and Mario Moretti were all whispered to be close to buying MV Agusta, but the rumor that it would be the former owner apparently won through.

The announcement of the sale is only another chapter in the history of MV Agusta which has enjoyed more twists and turns than the most challenging motorcycle race course. And with the next disclosure from the sale most likely be the terms and more importantly the price, very few expect Harley-Davidson to recoup anywhere near the $109 million it paid for MV Agusta in 2008.

But as quickly as fingers may be pointed, critics should cast an eye to the colorful history of the Italian motorcycle manufacturer that started in 1945. Its early success as a performance racing motorcycle came about partly as a result of an un-kept promise made to other prominent manufacturers at the time by one of MV Agusta's founders, Count Agusta.

The year was 1957, Italian motorcycle manufacturers Gilera, Moto Guzzi, Mondial and MV Agusta all jointly agreed to withdraw from Grand Prix competition, citing escalating costs and diminishing motorcycle sales as a reason.  But Count Agusta had second thoughts, stayed with competitive racing and without the others participating MV Agusta went on to dominate Grand Prix racing, winning 17 consecutive 500 cc world championships.

As for financial scandals, MV Agusta has ridden down that road as well. Heavily indebted, MV Agusta was bought by Malaysian car maker Proton in December 2004 for €70 million. But in December 2005 Proton decided to cut its ties with MV Agusta and sold it for a token price of one euro excluding debt.

The company was eventually brought back to Italian ownership with Claudio Castiglioni, who three years later sold it to Harley-Davidson in 2008 for $109 million dollars, or interestingly enough €70 million euros.

As if completing the circle of two-wheeled life, Castiglioni will be in the saddle again with MV Agusta.

When Harley-Davidson announced it was acquiring MV Agusta many felt it was an effort by the Milwaukee motorcycle manufacturer to further their presence in Europe, or at least diversify its range of motorcycles.

However, what could have come from the best motorcycle engineering minds both sides of the Atlantic Ocean would never be realized. A struggling world economy kept the powers-that-be at Harley-Davidson focused on maintaining the sales of the iconic HOG brand rather than riding down the road of perfomance possibilities.

And it was the disintergrating economy challenging sales of its legendary cruiser line-up as well as a change in leadership that ultimately had Harley-Davidson selling its Buell division and putting a ‘for sale’ sign on MV Agusta in late 2009.

While motorcycle enthusiasts wait for the next episode in this international biker drama, one executive is probably happier Harley-Davidson’s time with MV Agusta is coming to a close.

“MV Agusta is a proud brand and we wish Mr. Castiglioni and the company’s employees well,” said Harley-Davidson President and Chief Executive Officer Keith Wandell. “Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth.”