Formula One owner Liberty Media has agreed to acquire Dorna Sports, the exclusive commercial rights holder to the MotoGP World Championship.
Liberty Media has acquired Dorna Sports from investment group Bridgepoint and Canada Pension Plan Investment Board.
The deal will see Liberty acquire about 86% of Dorna, with Dorna’s management retaining the rest of the business. Carmelo Ezpeleta, CEO of Dorna since 1994, will continue to run the business headquartered in Madrid.
The transaction reflects an enterprise value for Dorna/MotoGP of €4.2bn and an equity value of €3.5bn, with MotoGP’s existing debt balance expected to remain in place after close.
The deal unites two of motor sports’ premiere events: Dorna Sports has owned motorcycle racing championship MotoGP since 1992, while Liberty Media took control of Formula One in 2017.
MotoGP is hosting 21 races across 17 countries for the 2024 season.
“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.”
Ezpeleta added: “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 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.”
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