Liberty, who has owned F1 since 2017, will take an 86 per cent stake of the motorbike racing series’ parent company, Dorna Sports, with the current management retaining 14 per cent.
The next race is the United States Grand Prix on April 14.
The deal, which is still subject to the receipt of clearances and approvals from various competition and foreign investment law authorities, is expected to be completed by the end 2024 and will see Dorna chief executive officer (CEO), Carmelo Ezpeleta, remain in charge.
“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, upon the announcement.
“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 stone 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.”
