Liberty Media Corp., the American company that owns Formula 1, is expanding its global racing portfolio with the acquisition of the MotoGP motorcycle racing series by the end of the year, as announced by MotoGP officials on Monday.
Liberty Media will be purchasing approximately 86% of Spain-based Dorna Sports, which holds the commercial and television rights for MotoGP, for a sum of about $4.5 billion (4.2 billion euros). Dorna Sports has confirmed that it will continue to operate as an independent entity under the leadership of Carmelo Ezpeleta, who has been the series' chief executive since 1994.
Having taken over Formula 1 in 2017, Liberty Media has overseen its growth in recent years, including initiatives such as the popular Netflix series “Drive to Survive” and the addition of races in Miami and Las Vegas in the United States.
MotoGP, known as the premier racing series for motorcycles, is set to feature 21 grand prix races across four continents in 2024. The upcoming race on the calendar is the Grand Prix of the Americas, scheduled to take place at the Circuit of the Americas in Austin, Texas, on April 14. This track, originally built for Formula 1, has been hosting MotoGP events since 2013.
Currently, Spanish rider Jorge Martin leads the championship standings ahead of South Africa's Brad Binder after two races into the season.
Greg Maffei, President and CEO of Liberty Media, expressed optimism about the acquisition, stating, “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.”
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