Companies expect the deal to be completed by the end of 2024.
Liberty Media, holder of the commercial rights to Formula 1, acquired 86% of the capital of Dorna, the company that promotes the world speed championships, including MotoGP and Superbikes, it was announced this Monday.
In a statement, the Spanish company Dorna, holder of the commercial and television rights for the MotoGP championships [onde milita o português Miguel Oliveira]Moto2, Moto3 and MotoE, Superbikes and the Women’s World Championship, explains that he maintains around 14% of the company’s capital, valued at 4.2 billion euros, which “will continue to be headquartered in Madrid” and with Carmelo Ezpeleta as executive director , as has been the case since 1994.
“We are pleased to expand our range of sports and entertainment with the acquisition of MotoGP,” said Greg Maffei, president and CEO of Liberty Media, quoted in the Dorna statement.
The same official stressed that “MotoGP is a championship with a loyal and enthusiastic fan base, captivating races and a revenue generator”.
“Carmelo and his management have built a great sporting spectacle that we can expand to a more global audience. The business has a wide margin for growth and we intend to grow MotoGP for fans, teams and commercial partners”, highlighted Greg Maffei.
Dorna, which has held the rights to the Motorcycle Speed World Championship since 1991, will become part of the Liberty Media portfolio, but will remain an independently operating company.
“This is the perfect next step in the evolution of MotoGP and we are very pleased with what this brings for Dorna, the MotoGP paddock and the fans”, highlighted Carmelo Ezpeleta.
The two companies expect the deal to be completed by the end of 2024.
