F1 owners Liberty Media buys MotoGP
In addition to Formula 1, Liberty Media has now added MotoGP to its portfolio after purchasing the biggest championship on two wheels for 6.9 billion AUD.
Liberty Media has owned the rights to Formula 1 since 2016 has taken over MotoGP from Dorna, which had owned the Premier Class since 1992 in addition to World Superbikes and MotoE.
Liberty has 86% of the shares with the remaining 14% with MotoGP management in a deal worth $4.2 billion Euros.
After bringing in ideas to Formula 1 such as Netflix’s Drive to Survive, new logo, theme song, an increased social media presence, expanding calendar, new races and Sprints over the past seven years where the pinnacle of motorsport has enjoyed soaring popularity, it will be fascinating to see if Liberty Media has a similar effect on the biggest show on two wheels.
Liberty Media President and CEO Greg Maffei said the group hopes to “grow” MotoGP.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” he said.
“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.”
Dorna Sports CEO Carmelo Ezpeleta said this is the “perfect step” for the category.
“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,” he 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 fanbase around the world.”
The announcement arrives just before MotoGP returns to the USA for the Americas Grand Prix on April 13-15.
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