Formula One rights holder Liberty Media have acquired Dorna Sports, SL, the exclusive commercial rights holder to the MotoGP motorcycle racing world championship, the company said on Monday.
Liberty Media will acquire 86% of MotoGP with MotoGP management retaining approximately 14% of their equity in the business. The purchase price amounts to $4,2 billion, a statement said.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media president Greg Maffei said. “The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
The takeover is expected to be completed by the end of this year and the deal still needs to be approved by various competition authorities.
Once approved, Liberty Media will own two of the most important motorsports series.