This is the “Saga Racer,” a 1980 Moto Guzzi V50 II, built by Andrei Kouznetsov of Revel Custom Motorcycles in the UK.
This was a personal project for Andrei, a man who knows his way around modern Guzzis but wanted to work his magic on a lightweight classic and make a cafe racer. He chose the V50 II for its nimble handling and its honest, 490cc twin engine.
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