Liberty Media announces Motogp takeover
Formula One’s USbased owner Liberty Media announced a takeover of Motogp’s parent company Dorna on Monday, valuing the world’s leading motorcycle racing championship at 4.2 billion euros ($4.53 billion).
Dorna will stay an independently run company attributed to Liberty Media’s Formula One Group tracking stock and continue to be based in Madrid, with long-serving Dorna CEO Carmelo Ezpeleta remaining in his position. “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 said in a Liberty Media statement.
The deal will see Liberty Media acquiring approximately 86 per cent of Dorna, with Dorna management retaining around 14 per cent of its equity. The deal is expected to be completed by the end of 2024. The transaction re
flects an enterprise value of 4.2 billion euros for Dorna/motogp and an equity value of 3.5 billion
euros, the statement said.
Dorna Sports, which was roughly 40 per cent owned by
British private investment company Bridgepoint Group, also promotes the World Superbike Championship and all-electric Motoe as well as Moto2 and Moto3 junior categories.
“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 said. “The business has significant upside, and we intend to grow the sport for Motogp fans, teams, commercial partners and our shareholders.”
Maffei noted, in an interview with CNBC television, that Formula One had only one grand prix in the United States when Liberty took over and now has three.
Motogp currently has one U.S. race on a 21-round calendar that includes Asia and the Middle East but with a European heartland dominated by Spain and Italy.