The long-rumoured deal was confirmed on Monday.
F1 owners Liberty Media have confirmed the purchase of the commercial rights to MotoGP following extensive rumours of a deal.
The American media company acquired F1 in 2016 and has now added to their sports portfolio with the 86% stake purchase of Dorna Sports, the exclusive commercial rights holder of MotoGP.
F1 owners Liberty Media acquire new property to boost sports portfolio
Dorna Sports was previously owned by Bridgepoint and Canada Pension Plan Investment Board but has now been bought out by Liberty Media, who spent $4.4 billion to purchase the commercial rights of F1 from CVC Capital Partners in 2016.
However, it is not yet a done deal with Liberty expected to run into issues with the EU in regards to a law against monopolies. CVC Capital Partners previously owned MotoGP but were forced to sell the rights by the European Commission in order to buy F1 in 2006.
Liberty report they have paid €4.2 billion with the MotoGP assets being added to the existing Formula 1 stock on Nasdaq. The American company also suggest the deal will be completed by the end of this year “subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions.”
Liberty president and CEO Greg Maffei said: “We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP.
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“MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile. Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience. The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
CEO of Dorna Carmelo Ezpeleta said: “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.
“We are proud of the global sport we’ve grown, and this transaction is a testament to the value of the sport today and its growth potential. Liberty has an incredible track record in developing sports assets and we could not wish for a better partner to expand MotoGP’s fanbase around the world.”
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