FORMULA ONE OWNERS LIBERTY MEDIA AGREE TO BUY MOTOGP

Formula One owners Liberty Media have agreed to buy MotoGP yesterday in a deal valued at around $4,5 billion (R85,4 billion), the American company said.

MotoGP said in a statement that Liberty Media would acquire “approximately 86%” stake from Spain-based owners Dorna in a deal valued at

€4,2 billion (R85,4 billion).

The acquisition is expected to be completed by the end of 2024 subject to clearances and approvals by competition and foreign investment law authorities in various jurisdictions.

Liberty will not be the first company to own both Formula One and MotoGP.

Private equity firm CVC Capital Partners had owned both F1 and MotoGP, but was forced to sell the motorcycle series to buy F1 after EU competition regulators raised objections.

“The transaction reflects an enterprise value for Dorna/MotoGP of €4,2 billion and an equity value of €3,5 billion, with MotoGP’s existing debt balance expected to remain in place after close,” read a statement issued by MotoGP.

Long serving CEO Carmelo Ezpeleta will remain in the post he has occupied since 1994 with the business headquarters remaining in Madrid.

“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.”

Ezpeleta said he was looking forward to the 21 race global championship evolving even further.