The firm that owns Formula 1 swooped in to purchase the MotoGP motorbike championship on Monday in a deal price €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 put up.
“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 underneath the one umbrella
The deal is anticipated to be accomplished by the tip of 2024.
However, it may appeal to regulatory scrutiny from competitors authorities in numerous jurisdictions.
Private fairness agency CVC Capital Partners had owned each F1 and MotoGP up to now however was compelled to promote the motorbike racing sequence to purchase F1 after European Union competitors regulators raised objections.
zc/lo (Reuters, AFP)