The firm that owns Formula 1 swooped in to purchase the MotoGP bike championship on Monday in a deal value €4.2 billion ($4.5 billion).
US-based Liberty Media will purchase “approximately” 86% of MotoGP’s present proprietor, Dorna, the corporate stated.
“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 stated.
What’s subsequent for MotoGP?
Dorna administration will retain round 14% of its fairness within the enterprise, and its longtime CEO Carmelo Ezpeleta will stay in his submit.
“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 stated. “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 below the one umbrella
The deal is anticipated to be accomplished by the top of 2024.
However, it might entice regulatory scrutiny from competitors authorities in varied jurisdictions.
Private fairness agency CVC Capital Partners had owned each F1 and MotoGP previously however was pressured to promote the bike racing sequence to purchase F1 after European Union competitors regulators raised objections.
zc/lo (Reuters, AFP)