US-based F1 proprietor Liberty Media publicizes MotoGP takeover

Formula One’s US-based proprietor Liberty Media has introduced a takeover of MotoGP’s mum or dad firm Dorna, valuing the world’s main motorbike racing championship at 4.2 billion euros (AED 16.63 billion), MotoGP mentioned in an announcement on Monday.

Dorna will keep an independently run firm attributed to Liberty Media’s Formula One Group monitoring inventory and proceed to be primarily based in Madrid, with long-serving Dorna CEO Carmelo Ezpeleta remaining in his place, the assertion added.

“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,” Ezpeleta mentioned.

The deal will see Liberty Media buying roughly 86 per cent of Dorna, with Dorna administration retaining round 14% of its fairness. The deal is predicted to be accomplished by the tip of 2024.

The transaction displays an enterprise worth of 4.2 billion euros for Dorna/MotoGP and an fairness worth of three.5 billion euros, the assertion mentioned.

Dorna Sports, which was roughly 40 per cent owned by British non-public funding firm Bridgepoint Group, additionally promotes the World Superbike Championship and all-electric MotoE.

“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media President and CEO Greg Maffei mentioned.

“The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”

The takeover may entice regulatory scrutiny. CVC Capital Partners, who offered Formula One to Liberty in 2017, have been cleared by the European Commission to purchase F1 in 2006 on situation they offered Dorna.

Canada Pension Plan Investment Board (CPPIB) purchased a 39% stake in Dorna from Bridgepoint in 2012. The remaining shares have been owned by Dorna administration, whose stake has dropped to 14% following the takeover.