Last week, information appeared in the business press that Formula 1 owners Liberty Media are planning to buy the MotoGP motorcycle racing world championship. The deal was officially announced today.
Liberty Media became the owner of 86% of MotoGP shares. The remaining 14% remained with Dorna. In addition to MotoGP, the deal also includes youth categories, the Superbike World Championship and the FIM Women’s Circuit Racing World Championship.
The transaction value was 4.2 billion euros. Dorna CEO Carmelo Ezpeleta will retain his position as CEO and the company’s headquarters will remain in Madrid.
Greg MaffeiCEO of Liberty Media, said: “We are delighted to expand our portfolio of leading sports series and entertainment assets with the acquisition of MotoGP.
MotoGP is a global series that generates large cash flows and has a loyal following. Carmelo and his team have created a great sports show that we can expand to a wider global audience.
This business has significant growth potential and we are committed to growing the sport for the benefit of MotoGP fans, teams, commercial partners and our shareholders.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
