Liberty Media completes acquisition of MotoGP
Ahead of this weekend's German Grand Prix, Formula One's Commercial Rights' Holder, Liberty Media has announced that it has completed its €4.2 billion acquisition of Dorna Sports.
Liberty Media announced last year that it intends to acquire a majority stake in MotoGP, albeit the approval of the European Commission was the final pending condition to the deal.
However, MotoGP has recently confirmed that Liberty Media Corporation has received unconditional approval today from the European Commission to complete its acquisition of MotoGP rights holder Dorna Sports.
MotoGP noted that it "is already evolving to unlock the full potential of the most exciting sport on Earth, enjoying record crowds, new venues, and growing audiences. Liberty Media will now leverage its expertise to further increase MotoGP’s fanbase and grow the sport globally and commercially."
The deal sees Liberty Media acquire 84% of MotoGP rights holder Dorna Sports with MotoGP management retaining 16% of the business.
Liberty Media Corporation operates and owns interests in media, sports and entertainment businesses, including its subsidiaries Formula 1 and Quint, its interest in Live Nation, and other minority investments.
The American firm has now confirmed that it has completed its €4.2 billion acquisition of Dorna Sports which has held the exclusive commercial and broadcasting rights for MotoGP since 1991. As well as the supporting Moto2 and Moto3 grand prix classes, Dorna also oversees MotoE and the World Superbike Championship.
Despite the new majority owner, Carmelo Ezpeleta, who has acted as CEO of Dorna since 1998, will continue to run MotoGP along with his management team.
Liberty Media's board and executive team - featuring Chase Carey and Sean Bratches, both instrumental in F1’s recent commercial boom - will also join the Dorna board.
A statement from Liberty Media read: "Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) and Dorna Sports, S.L. (“Dorna”), the exclusive commercial rights holder of the MotoGP™ World Championship (“MotoGP”), announced today that Liberty Media has completed its acquisition of Dorna.
"Following transaction close, Liberty Media’s Formula One Group is composed of its subsidiaries Formula 1, MotoGP and Quint, and other minority investments."
