Formula 1 and Moto GP will have the same owner as Liberty Media announced a takeover of the motorcycling series in a deal worth £3 billion.
Liberty, which bought F1 in 2017, is taking over Moto GP owner Dorna Sports, which it will buy from Bridgepoint and Canada Pension Plan Investment Board.
The media company confirmed Moto GP will be added to the same tracking stock as F1. Dorna CEO Carmelo Ezpeleta will remain in charge of the series.
“Moto GP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile,” said Liberty Media president and CEO Greg Maffei.
“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 Moto GP fans, teams, commercial partners and our shareholders.”
Liberty will spend £3bn (€3.5b) to acquire 86% of the Moto GP business. Moto GP management will retain the remaining 14%.
The deal values the motorcycling series at £3.59bn (€4.2bn). Liberty will hope to replicate the success it has enjoyed broadening F1’s appeal since it bought the series for £6bn ($8bn) seven years ago.
However their latest acquisition could attract the attention of regulators. CVC Capital Partners were forced to relinquish their ownership of Moto GP when they bought F1 in 2006.
Nonetheless Ezpeleta called Liberty’s deal “the perfect next step in the evolution of Moto GP.”
“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 Moto GP’s fanbase around the world.”
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