A Billion-Dollar Deal Revs Up Racing World
Liberty Media, the owner of Formula 1, has revealed its acquisition of MotoGP in a deal worth $4.2 billion. Having held ownership of F1 since 2017, Liberty will now claim an 86% stake in Dorna Sports, the parent company of the motorbike racing series, with the existing management maintaining a 14% interest.
The upcoming event on the racing calendar is the United States Grand Prix scheduled for April 14th.
The agreement, pending clearances and approvals from diverse competition and foreign investment law authorities, is anticipated to finalize by the conclusion of 2024.
Under the terms, Carmelo Ezpeleta, CEO of Dorna, will retain his position. “Expanding our array of premier live sports and entertainment assets through the acquisition of MotoGP is an exciting development,” stated Greg Maffei, President and CEO of Liberty Media, upon unveiling the announcement.
Revolutionizing MotoGP
“We envision significant opportunities for business expansion and are steadfastly dedicated to broadening the MotoGP community to encompass fans, teams, commercial partners, and shareholders, fostering mutual growth and prosperity.”
Ezpeleta passionately proclaimed, “Behold! This monumental leap transcends mere progress—it catapults MotoGP into a stratosphere of exhilarating innovation, igniting a blazing trail of unparalleled excitement for Dorna, the illustrious MotoGP paddock, and fervent racing enthusiasts across the planet! We stand as towering titans, bathed in the radiant brilliance of the awe-inspiring global sport we’ve meticulously cultivated.
This historic transaction isn’t just a testament; it’s a dazzling, resplendent testament, illuminating the incomprehensible value of MotoGP today and unleashing its boundless, unstoppable potential for future expansion, soaring to unprecedented heights!””Liberty boasts an unparalleled legacy in elevating sports assets to unprecedented heights, making them the absolute dream partner to catapult MotoGP’s fanbase to stratospheric levels across the globe!”
