Formula 1’s owner Liberty Media has announced a takeover of MotoGP’s parent company Dorna.
Liberty Media bought F1 from CVC Capital Partners in 2017, a deal which saw Bernie Ecclestone removed as chief executive of Formula One Group, and is now taking over motorbikes premier series, MotoGP.
The acquisition is expected to be completed by the end of 2024, subject to clearances and approvals by law authorities.
Liberty Media will acquire approximately 86 per cent of Dorna, with Dorna management retaining approximately 14 per cent of their equity.
The transaction reflects an enterprise value of 4.2 billion euros (£3.6bn) for Dorna/MotoGP and an equity value of 3.5 billion euros (£3bn).
“Moto GP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile,” said Liberty Media president and CEO Greg Maffei.
“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.”
Liberty Media president and CEO Greg Maffei
Dorna will stay an independently run company attributed to Liberty Media’s Formula One Group tracking stock and continue to be based in Madrid, with long-serving Dorna CEO Carmelo Ezpeleta remaining in his position.
“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 said.
Dorna Sports, which was roughly 40 per cent owned by British private investment company Bridgepoint Group, also promotes the World Superbike Championship and all-electric MotoE.
The deal has been on the cards for weeks, with Sky News revealing in March that Liberty were in talks to buy Dorna Sports
Uniting Moto GP and F1 under common ownership would provide Liberty Media with the opportunity to extract financial and commercial synergies.
+ There are no comments
Add yours