RACING legend Carl Fogarty has given himself until the end of this month to find sponsorship for his superbike team.

An agreement has already been reached with MV Agusta to run their bikes for next season and Fogarty has spent the last 12 months trying to find a financial backer.

However, with nothing secured as yet, the 42-year-old Blackburn Bullet conceded that time was running out.

He said: "Some days you're really confident things are going to happen for next year and other days you're not.

"The MV thing's still there, they want me to run the bikes next year in World Superbikes, but we've just got to get the funds together to make that happen, and that's been well documented for what seems like forever.

"We have two big interests in the Middle East, but it's just a case of getting them to realise how quickly we need to know things.

"If they say yes' tomorrow and hand the cheque over then we're going racing.

"It's alright people talking about being interested, but time's ticking on and we have deadlines. We need to know.

"I think by the end of this month, if there's nothing sorted out, then I can't see it happening for next year to be honest, I really can't.

"But then again, if someone came along in the middle of October and said here's the money', you might do it. But I just think realistically, to get the right riders and to get things in order to go winter testing, it's really got to be happening now.

"I'm not really sure. I'm hopeful that it can happen for next year but probably not quite as confident as I was a month ago."

Four-time World Superbike Champion Fogarty revealed he hasn't even approached drivers for a potential ride with his team next season.

After trying and failing to find sponsorship for a team running customer Ducatis last year, he admitted he was keeping everything under wraps until any deal is signed, sealed and delivered.

Although he said he was disappointed that his number one target, Burnley rider Neil Hodgson, had appeared to have chosen the States to further his career.

He said: "Neil's gone and that would have been a good option. That was the one thing I wanted more than anything to be honest. I think that would have been a great option for the team. He's capable of winning at World Championship level, there's no question about that.

"But I think he's going to go to America now and I think that's where he'll finish his career.

"After that, there's no point in me focusing on riders when all I've got is maybes. I don't like doing it and I won't do it again.

"I did it last year, and nothing happened for this year, so I'm not going to do anything.

"Until the money's there to go racing, then I'll speak to riders, and if that's too late then I don't care.

"I can't go talking to them now and saying we might be running MVs next year and we might be able to offer this or that.

"It is getting a little bit late in the day to be honest."