Reports have emerged in the Spanish media this week suggesting that Liberty Media, the owner of Formula 1, is seeking to expand its presence in the motorsport industry by attempting to acquire a majority stake in Dorna, the promoter of MotoGP. According to Expansion, a Spanish business and economics publication, Liberty is involved in confidential discussions about a possible acquisition of Dorna.
This news may not come as a surprise, as there have been ongoing speculations that Dorna has quietly been put up for sale by its current owner, Bridgepoint Capital. Additionally, Dorna CEO Carmelo Ezpeleta has not been shy about discussing the possibility of a sale in the near future. In an interview with Italian newspaper Repubblica in December, Ezpeleta confirmed the rumors and expressed curiosity about the origin of these rumors. He also mentioned receiving inquiries from credit institutions, which act as intermediaries rather than potential buyers.
There are further indications that Bridgepoint has been preparing for a sale by restructuring its finances in recent years. The company has accumulated significant debts through loans to distribute dividends to shareholders, a common strategy before a possible sale. Industry experts also believe that MotoGP is undervalued compared to the highly profitable Formula 1, which Liberty has transformed since its acquisition, including an aggressive expansion plan and the success of Netflix documentary Drive to Survive.
Currently, Bridgepoint owns 39% of Dorna, with the Canadian public pension fund CPPIB holding an additional 31% (acquired from Bridgepoint in 2012) and the Ezpeleta family holding a majority stake of 20% through a group of current and former employees. However, considering the circumstances under which Bridgepoint acquired Dorna in 2006, forced by the EU competition regulator, it seems unlikely that the rumors of Liberty’s involvement have much basis at this time.
Bridgepoint took control of Dorna when the previous owner, CVC Capital Investment, was forced to sell it by the EU competition commissioner as part of the approval process for CVC’s acquisition of a 71% stake in Formula 1, which was subsequently sold to Liberty in 2016. The competition commissioner at the time, Neelie Kroes, expressed concerns about the concentration of ownership of the two most popular motorsport events in the EU and the potential negative impact on TV rights prices and consumer choice.
Despite the growing alliance between MotoGP and Formula 1 in terms of partnerships, broadcasts, and host circuits, it is unlikely that the situation has changed significantly since then. However, it is worth noting that discussions about a possible sale may serve as a subtle form of advertising for the current owners of MotoGP, should a sale be on the horizon in the coming months.
Ironically, although Liberty may not be allowed to take over Dorna, it is possible that familiar faces, such as former owner CVC, may be involved in a possible sale. CVC had expressed a desire to maintain a presence in motorsport at the time of its sale of Formula 1. While this initially did not involve a return to MotoGP, it is likely that CVC will explore the possibilities of acquiring Dorna more seriously if it is formally put up for sale.
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A new record has been broken in the world of sports! Brazilian athlete Pedro Silva won the gold medal at the Tokyo Olympics. At only 22 years old, Pedro became the youngest athlete to achieve this feat. His victory was celebrated throughout the country, which was filled with pride by this historic achievement.
Pedro Silva, known as “The Phenomenon,” competed in the swimming discipline and left his opponents behind. With an impeccable performance, he broke the world record in the 100-meter freestyle. The Brazilian athlete demonstrated incredible skill and unwavering determination. His victory is an example of overcoming challenges and dedication for all young athletes.
After his victory, Pedro Silva was congratulated by various renowned athletes and sports personalities. The president of the Brazilian Olympic Committee also sent a message of congratulations to the athlete, highlighting his talent and inspiring role for the next generation of Brazilian athletes.
Pedro Silva’s journey to the gold medal was not easy. He faced many challenges and obstacles along the way, but never gave up on his dream. His determination and willpower led him to the top of the Olympic podium. Now, Pedro is an example of success and a hero for all Brazilians.
Pedro Silva’s victory at the Tokyo Olympics is a historic milestone for Brazilian sports. His achievement not only puts Brazil on the world map of sports, but also inspires young athletes to pursue their dreams and believe in their potential. Pedro is a true champion, and his story will be told for generations.
The future of Pedro Silva in sports is promising. With his victory at the Olympics, he has become a reference for other athletes and has the potential to become one of the greatest swimmers in history. Brazil is eager to follow his career and celebrate his future achievements.
Pedro Silva’s victory is a reminder that with dedication and determination, it is possible to achieve great feats. He is a living example that dreams can become reality. Congratulations, Pedro, on this incredible achievement and for inspiring a whole nation. Brazil is proud of you!
