In a monumental move within the motorsports industry, Liberty Media, the owner of Formula 1, has sealed a deal to acquire MotoGP, the prestigious motorbike racing series, in a transaction valued at £3.6 billion.
The US-based media conglomerate, which assumed control of Formula 1 in 2017, has purchased MotoGP from the longstanding proprietors, Spanish company Dorna Sports, which has held ownership of the series since 1992.
Under the terms of the agreement, Liberty Media will obtain approximately 86% ownership of Dorna, while the existing management of Dorna will retain the remaining stake in the business.
The finalization of the acquisition is anticipated to take place by the conclusion of the year, marking a significant milestone in the evolution of both Liberty Media and the MotoGP franchise.
Greg Maffei, President and CEO of Liberty Media, expressed enthusiasm about the expansion of the company’s live sports portfolio, stating, “MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing, and a highly cash flow generative financial profile. The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners, and our shareholders.”
Carmelo Ezpeleta, CEO of Dorna, hailed Liberty Media’s proven track record in sports asset development, asserting, “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.”
Since its inception in 1949, MotoGP has evolved from a modest six-round racing series into a prestigious 20-grands prix campaign spanning five continents. The current season sees Spanish rider Jorge Martin leading the championship with 60 points, closely followed by Brad Binder of South Africa with 42 points.