It’s an open secret, and this Monday it was officially confirmed: Liberty Media Corporation has announced an agreement to acquire MotoGP.
With this agreement, Dorna Sports SL, exclusive holder of commercial and television rights to MotoGP, will continue to be an independent company with respect to Liberty Media’s Formula One Group and Carmelo Ezpeleta, who has been CEO since 1994, will remain in his position and will continue to manage the business with his management team, which will continue to be based in Madrid.
Liberty Media will acquire approximately 86% of Dorna, while Dorna management will retain approximately 14% of its stake in the business.
The transaction represents an enterprise value for Dorna/MotoGP of €4.2 billion and an equity value of €3.5 billion, with MotoGP’s existing debt expected to remain after the closing.
“We are delighted to expand our portfolio of leading live sports assets and entertainment in the acquisition of MotoGP, said Greg Maffei, President and CEO of Liberty Media.
In its part, Carmelo Ezpeleta said “this is the perfect next step in the evolution of MotoGP, and we are excited about what this milestone brings to the MotoGP paddock and race fans. “Liberty Media has an incredible track record in developing sports assets and we couldn’t have wished for a better partner to expand our fan base around the world.”
Looking forward to the acquisitionsubject to receiving authorizations and approvals from competition and foreign investment authorities in various jurisdictions, to be completed by the end of 2024.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
