April 14, 2024


The multibillion-dollar takeover places Formula 1 and MotoGP under the same Liberty Media ownership structure.

Formula One owner Liberty Media has agreed to buy MotoGP in a deal valued at about 4.2 billion euros ($4.5bn), the United States-based company said.

MotoGP said in a statement on Monday that Liberty Media would acquire “approximately 86 percent” stake from Spain-based owner Dorna.

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.

“Liberty Media Corporation has announced an agreement to acquire MotoGP. MotoGP is the pinnacle of two wheels,” read a statement issued by MotoGP.

“Liberty Media will acquire approximately 86 percent of Dorna, with Dorna management retaining approximately 14 percent of their equity in the business.

“The transaction reflects an enterprise value for Dorna/MotoGP of EUR4.2 billion and an equity value of EUR3.5 billion, with MotoGP’s existing debt balance expected to remain in place after close.”

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.

“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 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.”



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Batman138 Bro138 Dolar138 Gas138 Gudang138 Hoki99 Ligaciputra Panen77 Zeus138 Kilat77 Planet88 Gaspol168 Sikat88 Rupiah138 Garuda138 Gacor77 Roma77 Sensa138 Panen138 Slot138 Gaco88 Elanggame Candy99 Cair77 Max7 Best188 Space77 Sky77 Luxury777 Maxwin138 Bosswin168 Cocol88 Slot5000 Babe138 Luxury138 Jet77 Bonanza138 Bos88 Aquaslot Taktik88 Lord88 Indobet Slot69 Paus138 Tiktok88 Panengg Bingo4d Stars77 77dragon Warung168 Receh88 Online138 Tambang88 Asia77 Klik4d Bdslot88 Gajah138 Bigwin138 Markas138 Yuk69 Emas168 Key4d Harta138  Gopek178 Imbaslot Imbajp Deluna4d Luxury333 Pentaslot Luxury111 Cair77 Gboslot Pandora188 Olxtoto Slotvip Eslot Kuy138 Imbagacor Bimabet