Formula 1 owner Liberty Media buys MotoGP
April 1, 2024
The company that owns Formula 1 swooped in to buy the MotoGP motorcycle championship on Monday in a deal worth €4.2 billion ($4.5 billion).
US-based Liberty Media will acquire "approximately" 86% of MotoGP's current owner, Dorna, the company said.
"We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP," Liberty Media president and CEO Greg Maffei said.
What's next for MotoGP?
Dorna management will retain around 14% of its equity in the business, and its longtime CEO Carmelo Ezpeleta will remain in his post.
"This is the perfect next step in the evolution of MotoGP, and we are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans," Ezpeleta said. "We are proud of the global sport we've grown, and this transaction is a testament to the value of the sport today and its growth potential."
F1 and MotoGP under the one umbrella
The deal is expected to be completed by the end of 2024.
However, it could attract regulatory scrutiny from competition authorities in various jurisdictions.
Private equity firm CVC Capital Partners had owned both F1 and MotoGP in the past but was forced to sell the motorcycle racing series to buy F1 after European Union competition regulators raised objections.
zc/lo (Reuters, AFP)