Liberty Media CEO Greg Maffei on the sidelines of the Las Vegas F1 GP, April 21, 2023 (GETTY IMAGES NORTH AMERICA/AFP/Archives/Ethan Miller)
The American group Liberty Media, already owner of Formula 1, announced on Monday the acquisition of the company owning the rights to the MotoGP world championship, Dorna Sports.
Liberty Media will acquire, in cash and shares, 86% of Dorna Sports, with the company’s managers retaining control of the remaining shares, for an amount that values this Madrid-based company at 4.2 billion euros, debt understood.
“We are very pleased to expand our portfolio in the sports and entertainment sector with the acquisition of the MotoGP championship,” commented Liberty Media CEO Greg Maffei, quoted in a press release. “This is a growing business, and we want to make it grow further for MotoGP fans, the teams, its commercial partners and our shareholders.”
Dorna Sports, whose CEO Carmelo Ezpeleta will remain in office according to Liberty Media, was previously controlled by the Bridgepoint fund and the Canadian Pension Plan Investment Fund.
“This is the ideal step in the evolution of MotoGP, and we are excited about what this new milestone will bring to Dorna, the MotoGP paddock and motorsport fans,” said Carmelo Ezpeleta, quoted in the same press release.
The operation, which Liberty Media says it hopes to complete by the end of 2024, remains subject to the approval of regulatory authorities in several jurisdictions, recalls the American group.
The Luxembourg CVC fund, also owner for a time of Formula 1 and MotoGP, was forced by the European competition watchdog to sell the motorcycle championship in 2006 after having acquired Formula 1, which it ended up selling control to Liberty Media in 2017.
© 2024 AFP
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