Liberty Media, formerly known as the ‘Most Valuable Sports Empire’ according to Forbes, has been actively working to increase the global popularity of Formula 1. The success of the inaugural event boosted the sport’s reputation in the Americas, leading Liberty Media to seek the rights to MotoGP as well.
Since 1991, Dorna Sports has held the exclusive commercial rights to MotoGP. Now, Liberty Media seeks to expand its influence by acquiring the two-wheeled racing category. The company is currently in negotiations with Bridgepoint to acquire Dorna. Liberty Media’s recent recognition as the ‘Most Valuable Sports Empire’ by Forbes further solidifies its determination to expand its dominion.
The CEO of Dorna has confirmed rumors of a possible sale to Liberty Media, stating that while banks were initially not ready to acquire the commercial rights, they are now prepared to do so after 25 years. This presents an opportunity for Liberty Media to further enhance its presence in the world of motor sports.
Liberty Media has played a significant role in the global success of Formula 1. Its efforts to increase American involvement in the sport resulted in the inaugural Las Vegas Grand Prix, which attracted an impressive audience of 315,000 people over the race weekend. The economic impact of the event in the region was estimated at $1.2 billion.
In addition to its achievements in Formula 1, Liberty Media seeks to expand the horizons of the sport through new partnerships and engagement with younger audiences. This strategy has led to an increase in popularity and interest from all corners of the world.
The 2024 Formula 1 season promises excitement for both fans and drivers. It will showcase the development of Red Bull’s RB20 chassis and provide thrilling racing action as other teams strive to catch up with the Milton Keynes-based leading team. With last-minute changes being finalized, teams are preparing for a successful start at the Bahrain Grand Prix.
