Your probably right about the tire, need to be replaced. Guy just bought it at auction, old fart like me (64), never rode a Valk before, bet he got a real surprise

. Looks like the bike has not seen much in the way of PM, I should be more concerned about the rear end. Will go front to back this winter so it's ready next year. Thanks!
Guess being an old fart sortof runs in the Valk lineage. The ‘01 I bought was $3800 and is my umpteenth Valkyrie. I enjoy projects and sold my ‘12 Rocket III to get another crack at an Interstate. I had sold my pristine ‘01 several years prior because I “had to have” a Triumph Rocket. Don’t get me wrong, strong, crazy fast bikes, but no where near the bike a Valk is (no flaming please, just my opinion here). Anyway, when I got my “new to me” Interstate last year, I immediately put her on a lift and began the process of “refreshing” the bike to a safe and rideable machine:
Timing belts
Exhaust gaskets
Steel Valve stems
Tail light
Replace exhaust
Lift adapter
Shock Bushings
De-smog kit
Strobe stop lamp
Custom front brake & Clutch lines
Spiegler rear brake line
Replace choke cable
Front Tire: Michelin Pilot 130/90-17
Rear Tire: Austone Taxi
Front/Rear Brakes
SERVICE HISTORY
The following was performed at 30,300 miles, 2019:
Cleaned carburetors and replaced gaskets, slow #35 jets and float valves
Replaced rear shock bushings with Polyurethane bushings
Front brake calipers frozen: cleaned and lubricated.
Final drive unit replaced (installed unit was damaged), lubricated, O rings changed, new thrust washer.
Exhaust changed back to stock exhaust
Rear bearings replaced (both sides).
Drain and replace antifreeze with Honda 50/50
Final drive fluid replaced
Engine oil and filter changed (Castrol 10W-50 full synthetic MC racing oil & Mobile M110 filter)
Rear tire replaced (Austone Taxi)
Rear tire valve stem replaced with steel stem
Ride-on installed in front and rear tires
Front tire replaced
Front tire valve stem replaced with steel stem
Timing belts replaced
Installed desmog kit.
New air filter.
Tore down and cleaned/lubricated Hi/Lo beam switch and turn signal switch.
Installed “Signal Boss” turn signal controller
Installed electronic cruise control
Adjusted Valves to factory specification
Lubricated both throttle cables.
Installed Hella supertone horns.
Rebuilt front brake master cylinder and replaced rubber boot.
New DOT 4 synthetic brake fluid and system bled for front, rear, and clutch.
Rebuilt clutch master cylinder and replaced rubber boot.
Cleaned and repacked grease in Triple tree bearings, top and bottom.