Liberty Media has acquired MotoGP's parent company Dorna, MotoGP announced in a statement on Monday.
The Formula One's U.S.-based owner, Liberty Media, is expected to complete the acquisition by the end of the year subject to clearances and approvals by law authorities.
"Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity... the transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion ($4.53 billion) and an equity value of €3.5 billion," MotoGP added.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” said Greg Maffei, Liberty Media President and CEO.
“MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile. 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,” he added.
Meanwhile, Carmelo Ezpeleta, CEO of Dorna, said: “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. We are proud of the global sport we’ve grown, and this transaction is a testament to the value of the sport today and its growth potential. Liberty Media has an incredible track record in developing sports assets and we could not wish for a better partner to expand MotoGP’s fanbase around the world.”
MotoGP sees 22 of the fastest riders race on purpose-built prototype motorcycles around the world, hitting top speeds above 360 kilometers per hour.
