Liberty Media: after Formula 1 it also acquires MotoGP

After Formula 1 Liberty Media he also takes the MotoGP. In a press release published on the website, the company explains that it has entered into an agreement to acquire Dorna Sports, exclusive owner of the commercial rights to the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board. The MotoGP, underlines the press release, will be attributed to the tracking stock of the Liberty Media Formula One Group.

Going into detail, Liberty Media will acquire 86% of MotoGp and management will retain approximately 14% of its equity in the business. The transaction reflects an enterprise value for MotoGP of €4.2 billion and an asset value of €3.5 billion with the balance of MotoGP’s existing debt expected to remain in place after closing.

The equity consideration to the sellers is expected to be comprised of approximately 65% ​​cash, 21% Series C Liberty Formula One common stock and 14% MotoGP management stock. The cash consideration will be financed with a mix of cash and debt, subject to market conditions. The acquisition is expected to be completed by the end of 2024 and is subject to approvals from competition authorities.

Because football and sport are an industry

“We are thrilled to expand our portfolio of leading sports and live entertainment assets with the acquisition of MotoGP,” he said Greg Maffei , President and CEO of Liberty Media. «MotoGP is a global championship with a loyal and enthusiastic fan base, engaging racing and a highly cash flow generating financial profile. Carmelo and his management team have built a great sports spectacle that we can expand to a broader global audience. The business has significant benefits and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.” According to Carmelo Ezpeleta, CEO of Dorna, the operation «is the perfect next step in the evolution of MotoGP and we are excited about what this milestone will bring to Dorna, the MotoGP paddock and racing fans. This operation demonstrates the value of sport today and its growth potential. Liberty has an incredible track record in developing sports assets and we couldn’t ask for a better partner to expand MotoGP’s fan base around the world.”