Twitter
Advertisement

F1 owner Liberty Media acquires MotoGP in $4.53 billion deal with Dorna

The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Liberty Media, a company from the United States that owns Formula One, announced on Monday that it has bought Dorna, the company behind MotoGP, the famous motorcycle racing championship. MotoGP is valued at 4.2 billion euros ($4.53 billion), according to MotoGP's statement. Dorna will continue to operate independently under Liberty Media's Formula One Group tracking stock and will remain based in Madrid. The CEO of Dorna, Carmelo Ezpeleta, will continue in his position.

'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,' said Ezpeleta.

In the deal, Liberty Media will buy around 86% of Dorna, while Dorna's management will keep about 14% of the company. The deal is expected to be completed by the end of 2024. The deal values Dorna/MotoGP at 4.2 billion euros in total, with an equity value of 3.5 billion euros. Dorna Sports, previously owned by the British private investment company Bridgepoint Group, also manages the World Superbike Championship and MotoE, an all-electric motorcycle racing series.

'We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP', said Greg Maffei, President and CEO of Liberty Media.

'The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders', Greg Maffei added.

However, this acquisition might face inquiry from regulators. CVC Capital Partners, who sold Formula One to Liberty in 2017, were allowed by the European Commission to buy F1 in 2006 on the condition they sold Dorna. Canada Pension Plan Investment Board (CPPIB) bought a 39% stake in Dorna from Bridgepoint in 2012. The rest of the shares were owned by Dorna's management, but their stake has reduced to 14% after the acquisition.

 

 

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement