Liberty Media Corporation has announced an agreement to acquire MotoGP
This new agreement will see Dorna Sports S.L., the exclusive commercial and television rights holder of MotoGP, remain an independently run company attributed to Liberty Media’s Formula One Group tracking stock. Carmelo Ezpeleta, who has been CEO since 1994, will remain in his position and continue to run the business with his management team. The business will remain based in Madrid.
Dorna also holds exclusive rights to other motorcycle racing series, including MotoGP feeder series Moto2 and Moto3, the FIM Enel MotoE World Championship, the MOTUL FIM Superbike World Championship and the new FIM Women’s Circuit Racing World Championship.
Liberty Media will acquire approximately 86 per cent of Dorna, with Dorna management retaining approximately 14 per cent of their equity in the business.
The transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion and an equity value of €3.5 billion, with MotoGP’s existing debt balance expected to remain in place after close.
“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.”
“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,” said Carmelo Ezpeleta, CEO of Dorna. “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 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.”
The acquisition is expected to be completed by year-end 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions.
