The owner of Formula 1, Liberty Media, has reached an agreement to acquire MotoGP, the two-wheeled equivalent of F1, by purchasing its promoter Dorna Sports. News of Liberty’s interest in MotoGP has been circulating for some time and was officially confirmed on April 1st. Liberty Media, based in the USA, acquired the Formula One Group in 2016, becoming the promoter of F1 after buying a majority stake from CVC Capital Partners. As part of the deal, Dorna will become part of Liberty’s “Formula One Group tracking stock,” but will continue to be managed by Carlos Ezpeleta.
Liberty Media’s President and CEO, Greg Maffei, expressed his enthusiasm for MotoGP, stating that it is a global league with a dedicated fan base and a solid financial profile. He believes the sport has significant growth potential and intends to expand its reach to a broader global audience. Prior to Liberty’s acquisition, Dorna was owned by Bridgepoint Group, CPPIB, and other shareholders, including the Ezpeleta family. However, Liberty’s acquisition represents approximately 86% of the company and is valued at €4.2 billion in enterprise value and €3.5 billion in equity value.
Carlos Ezpeleta, the long-time leader of Dorna, expressed his excitement in partnering with Liberty Media, citing their track record in developing sports assets. He believes that Liberty will help expand the MotoGP fan base worldwide. The completion of the deal is expected by the end of 2024, pending approvals and authorizations from competition and foreign investment authorities in various jurisdictions. It is worth noting that the European Union’s monopoly commission must investigate Liberty’s acquisition of MotoGP, just as it did when CVC had to sell Dorna due to its acquisition of F1. Liberty emphasized that Dorna will continue to operate independently and maintain its rights in the World Superbike Championship.
