F1 owner Liberty Media announces MotoGP takeover
The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities.
Published : Apr 01, 2024 15:52 IST - 1 MIN READ
FILE PHOTO: Liberty Media has announced a takeover of MotoGP’s parent company Dorna. | Photo Credit: AP
Formula One’s US-based owner Liberty Media has announced a takeover of MotoGP’s parent company Dorna, MotoGP said in a statement on Monday.
“Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity... the transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion ($4.53 billion) and an equity value of €3.5 billion,” MotoGP added.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media president and CEO Greg Maffei said.
“We are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” said Carmelo Ezpeleta, CEO of Dorna.
The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities, MotoGP added.
The takeover could attract regulatory scrutiny. CVC Capital Partners, who sold Formula One to Liberty in 2017, were cleared by the European Commission to buy F1 in 2006 on condition they sold Dorna.