MADRID, 1 Abr. (EUROPA PRESS) –
Liberty Media, owner of Formula 1, acquired this Monday 86% of the Spanish company that owns MotoGP, Dorna Sports, for more than 4,000 million euros in an agreement that puts the main motor competitions under one roof, as reported. the Motorcycle World Championship in a statement.
“Liberty Media Corporation has announced an agreement to acquire MotoGP. MotoGP is the pinnacle of two wheels, with 22 of the fastest riders competing on some of the best circuits in the world, reaching top speeds in excess of 360 km/hour,” reported the competition on its website.
According to the statement, Liberty Media will acquire approximately 86% of Dorna, while Dorna’s management will retain approximately 14% of its stake. 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 expected to be maintained upon closing.
From Liberty, chaired by the telecommunications and entertainment magnate John Malone, they highlighted the growth of the competition, which started in 1949, with a first season in which six Grand Prix were held in Europe, until covering more than 20 Grand Prix. on five continents, “with television broadcasts that reach hundreds of millions of people around the world.”
Dorna promotes several tournaments, including the Superbike World Championship and an electric motorcycle series called MotoE. The Spanish company organizes 251 races a year in 20 countries.
For its part, Qatar Sports Investments, the group backed by the Arab State and owner of the Paris Saint-Germain football club, would also be interested in Dorna. To this end, it would have consulted with Bridgepoint.
Bridgepoint, with around 40% of the share capital, and the Canada Pension Plan Investment Board (CPPIB), with 39%, are the main shareholders of Dorna. Likewise, its directors, including the CEO, Carmelo Ezpeleta, are also shareholders.
With this new agreement with Liberty, Dorna Sports, the exclusive holder of the commercial and television rights to MotoGP, “will continue to be an independent company attributed to Liberty Media’s Formula One Group,” as reported by MotoGP in its statement.
Therefore, Carmelo Ezpeleta, who has been CEO since 1994, will remain in his position and continue to direct the competition and Dorna with his management team, at the Madrid headquarters.
“We are delighted to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP. It is a global competition with a loyal fan base, captivating racing and a highly fluid financial profile. They have built a great sporting spectacle that we can expand to a broader global audience,” said Greg Maffei, president and CEO of Liberty Media, who insisted on the group’s intention to “grow” the discipline.
For Ezpeleta, “this is the perfect next step in the evolution of MotoGP.” “We are proud of the global sport we have grown, and this transaction is a testament to the value of sport today and its growth potential. Liberty Media has an incredible track record in developing sports assets and we couldn’t wish for a better partner. to expand the MotoGP fan base around the world,” he acknowledged.
As reported by MotoGP, the acquisition is expected to be completed by the end of 2024, as it “is subject to the receipt of authorizations and approvals from competition and foreign investment authorities in various jurisdictions.”
2024-04-01 10:08:38
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