Aditya ChaudhuriLiberty Media Corporation has announced that it has signed an agreement to acquire Dorna Sports, the exclusive commercial rights holder of the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board (CPP Investments).
Liberty Media is set to acquire 86% of MotoGP, with the latter’s management set to hold on to the remaining percentage. The acquisition is set to be completed by the end of 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions.
Liberty Media has also owned the rights to Formula One since 2016. The MotoGP acquisition will be attributed to Liberty Media’s Formula One Group tracking stock.
Greg Maffei, President and CEO, Liberty Media, commented:
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP.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.“
Carmelo Ezpeleta, CEO, Dorna, said:
“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 fan base around the world.“
