In an unprecedented development reshaping the landscape of motorsport, Liberty Media Corporation has announced its agreement to acquire MotoGP™. MotoGP™ stands as the pinnacle of two-wheeled racing, boasting 22 of the fastest riders competing on purpose-built prototype motorcycles across some of the world's most renowned racetracks, with speeds exceeding 360 kilometers per hour (223 miles per hour).
Under this agreement, Dorna Sports S.L., the exclusive commercial and television rights holder of MotoGP™, will remain an independently run entity attributed to Liberty Media's Formula One Group tracking stock. Carmelo Ezpeleta, CEO since 1994, will retain his position and continue to lead the business alongside his management team, maintaining the headquarters in Madrid.
Dorna Sports also holds exclusive rights to other esteemed motorcycle racing series, including Moto2™, Moto3™, MotoE™, the Superbike World Championship, and the newly established FIM Women's Circuit Racing World Championship.
Liberty Media's acquisition will encompass approximately 86% of Dorna, with Dorna management retaining around 14% 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 persist post-acquisition.
Greg Maffei, Liberty Media's President and CEO, expressed enthusiasm about expanding their portfolio with MotoGP™, citing its global appeal, passionate fanbase, and lucrative financial profile. Meanwhile, Carmelo Ezpeleta hailed the acquisition as a pivotal moment for MotoGP™'s evolution, expressing confidence in Liberty Media's track record in sports asset development.
The acquisition is anticipated to conclude by the end of 2024, subject to regulatory approvals. Investors can join an investor conference call hosted by Greg Maffei and Carmelo Ezpeleta on April 1, 2024, to delve into further details regarding the acquisition.
About Liberty Media Corporation: Liberty Media Corporation operates and owns interests in a diverse array of media, communications, and entertainment businesses. These businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Formula One Group, and the Liberty Live Group.
About Dorna Sports, S.L. & MotoGP™: Dorna Sports has been the sole commercial and television rights holder of the FIM MotoGP™ World Championship since 1991. Based in Madrid, Dorna manages and markets various motorcycle racing championships globally, including MotoGP™, Moto2™, Moto3™, MotoE™, the Superbike World Championship, and the FIM Women's Circuit Racing World Championship.