
The 19-time Isle of Man TT winner was hurt in a crash during last weekend’s Donegal International Rally, which was hit by tragedy following the death of three-time winner Manus Kelly.
A statement issued by Dunlop’s MD Racing team said he will be out of action for up to two weeks as a result.
The statement read: ‘Michael suffered serious injuries which will leave him out of action for two weeks.
‘A further update of his condition will be made in the near future’.
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Dunlop was holding 10th place in his class when he crashed out during the Knockalla stage last Saturday.
The 'Race to the Clouds' Pikes Peak Hill Climb takes place on June 30 in Colorado.
It is thought Dunlop's next race outing will be at the Southern 100 in July prior to the Ulster Grand Prix at Dundrod (August 5-10).