As he has been accustomed to doing for three decades, the Catalan Carmelo Ezpeleta, 78 years old, charismatic CEO of Dorna Sports, will walk, on Sunday May 12, the paddock of the Bugatti circuit of Le Mans for the French Grand Prix, fifth stage of the season in MotoGP. Apparently nothing has changed. However, a real revolution is brewing behind the scenes of the most prestigious motorcycling competition. Before the end of 2024, subject to validation by the European competition authorities, the owner of Formula 1 (F1) will take over MotoGP. 1er April, Liberty Media announced the acquisition, in share and cash, of 86% of the capital of Dorna. An agreement which values the Spanish company – also owner of the Superbike (motorcycles close to those produced in series) and the MotoE (electric motorcycles) – at 4.2 billion euros, debt included.
Created in 1988, the Madrid-based company was until now owned by the Bridgepoint fund and the Canada Pension Plan Investment Board. At the end of the operation, 14% of the capital will remain in the hands of Dorna’s managers, including Carmelo Ezpeleta, who should continue to ride MotoGP.
Listed on Nasdaq, Liberty Media is the owner of the concert organizer Live Nation, the TripAdvisor site and Sirius XM, a digital satellite radio operator. But the feat of arms of the American group led by Greg Maffei is above all to have restored the Formula 1 championship – bought in 2017 for eight billion dollars (7.5 billion euros at the time) – and transformed this aging competition into brilliant commercial success, even if the spectacle is not always there.
“Lots of assets to attract a young audience”
Under the leadership of its new owner, does MotoGP risk becoming more and more like its counterpart, which has become monotonous due to the overwhelming domination of Red Bull and Max Verstappen? “No, Liberty Media will not touch what makes our DNA, that is to say fighting. Our technical regulations are designed to avoid cost inflation and prioritize sporting fairness,” replies Hervé Poncharal, the boss of the French team GasGas-Tech 3.
“On the other hand, the American group will bring its experience to Dorna to maximize the audience for the Grands Prix”, adds the one who is also the president of the International Road Racing Teams Association (IRTA), the association of teams participating in MotoGP. A vision widely shared in the paddock, as well as in financial circles. “Liberty Media will bring its marketing power and know-how in the field of social networks, continues Adrien Dumas, manager of the Mandarine Global Sport investment fund. MotoGP has many advantages to attract a young audience: the format of the races, lasting forty-five minutes, is more attractive than that of F1. And its championship is much more contested. »
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