Formula 1 owners, Liberty Media, has officially completed an acquisition from Dorna Sport for MotoGP worth $4.5-billion.
Payment to Dorna involves a 86% stake with the added promise of upping the sport's value within the coming years.
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.Private equity firm, CVC Capital Partners, had owned both F1 and MotoGP but was forced to sell the motorcycle series to buy“Liberty Media Corporation has announced an agreement to acquire MotoGP. MotoGP is the pinnacle of two wheels,” read a statement issued by MotoGP.
“The transaction reflects an enterprise value for Dorna/MotoGP of €4.2-billion and an equity value of €3.5-billion, with MotoGP’s existing debt balance expected to remain in place after close.”According to a report last week in the Financial Times Qatar Sports Investments , owners of French champions Paris Saint-Germain, and TKO Group Holdings, which comprises mixed martial arts organisation UFC and World Wrestling Entertainment , had also held talks with Dorna.
Long serving CEO Carmelo Ezpeleta will remain in the post he has occupied since 1994 with the business headquarters remaining in Madrid.“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.
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