OWNER OF Formula 1, Liberty Media, officially acquired MotoGP. Liberty Media acquired 86% of Dorna’s shares at a cost of 4.2 billion euros or around IDR 72 trillion. This means that Dorna now only owns 14% of MotoGP shares.
The aim of this acquisition is that Liberty Media wants to spread their wings in the world of sports.
“We are very pleased to be able to expand our portfolio of leading sports and entertainment assets by acquiring MotoGP,” said Liberty Media President and CEO Greg Maffei, as reported by the official MotoGP website, Monday (1/4).
“MotoGP is a global league with a loyal and enthusiastic fan base, exciting racing and a financial profile that generates high cash flows.”
“Carmelo (Ezpeleta) and his management team have built an incredible sporting spectacle that we can expand to a wider global audience. This business has a significant upside impact and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders,” he added.
Meanwhile, Dorna CEO Carmelo Ezpeleta welcomed this acquisition process. He said this was, “The perfect next step in the evolution of MotoGP, and we are very enthusiastic regarding this achievement for Dorna, the MotoGP paddock and racing fans.”
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“Liberty has an outstanding track record in developing sporting assets and we mightn’t have asked for a better partner to expand the MotoGP fan base around the world,” he continued.
Even though it is officially the new owner of MotoGP, Liberty Media still gives Dorna Sports the freedom to manage MotoGP, Moto2 and Moto3. Carmelo Ezpeleta will also continue to serve as CEO of Dorna Sports.
This acquisition is expected to be completed by the end of 2024 because it still has to wait for permits and approvals from business competition and foreign investment law authorities in various jurisdictions. (Ant/Z-1)
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