New Jersey businessman Bruce Belfer’s bid to buy and restart Erik Buell Racing has fallen through, and as of yesterday, EBR has been acquired by Liquid Asset Partners, of Grand Rapids, Michigan, for $2 million–the same people who liquidated Buell when Harley-Davidson pulled the rug out from under it in 2009.

It’s not great news, but maybe it’s not the end either? Liquid Assets’ owner claims he’s working on a plan to try and get Buell back doing what he does best. Read the full story in the Milwaukee Journal Sentinel here.

Reached last night on an airplane, Bruce Belfer had no comment. Here’s the last news we posted last November, as to what went wrong with the Belfer deal.