Liberty Media, the owners of Formula One, have added MotoGP to their stock of racing series after a £3.6billion takeover.
The American company, which boasts assets worth in the region of £35bn, has acquired an 86 per cent stake in Dorna, the group which runs MotoGP.
The deal will see Dorna retain independent control of the motorcycle racing series commercial and television rights, with longtime CEO Carmelo Ezpeleta remaining in place.
“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.
“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. Liberty Media has an incredible track record in developing sports assets and we could not wish for a better partner to expand MotoGP’s fanbase around the world.
The deal is subject to final regulatory checks and is expected to be completed by the end of this year and it could attract scrutiny. CVC Capital Partners, who sold F1 to Liberty in 2017, were only cleared by the European Commission to buy the series in 2006 on the condition they sold Dorna.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” said Greg Maffei, Liberty Media president and CEO.
“MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile. Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience.
“The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
