In early April, the owners of Liberty Media’s Formula 1 announced the acquisition of the company Dorna Sports SLwhich owns the commercial rights to MotoGP.
Under the terms of the agreement, Dorna’s 86% stake in Liberty Media is to be paid $5 billion, approximately two-thirds by bank transfer and one-third in Formula 1 shares.
However, Liberty Media’s prospectus states that it intends to sell 10,650,000 ordinary shares of Formula 1 to finance part of the transaction from net profits.
A company spokesman said that if the shares are not sold, it would not delay the Dorna takeover; the deal is expected to close by the end of the year.
The MotoGP activities will be part of the Formula 1 group, but will operate independently from Formula 1. This is a requirement for regulators to avoid antitrust issues that could arise from the joint ownership of the world’s leading two- and four-wheeled sports competitions.
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.
