...
By Saajan Jogia
Sports Contributing Writer
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
The European Commission has granted an unconditional approval to Liberty Media Corporation for the purchase of MotoGP rights owner Dorna Sports for a reported $4.4 billion.
Popular for owning Formula One, Liberty Media is a renowned player in the sports, media, and entertainment sector. It will acquire 84 percent of Dorna, while the remaining 16 percent will be retained by the MotoGP management. The deal is expected to be concluded by July 3, 2025.
The acquisition of MotoGP means the premier class of motorcycle racing, and F1 will now be under the same ownership. Liberty Media's high-profile takeover of MotoGP came under scrutiny from the European Union towards the end of 2024. An investigation was conducted to assess the deal's potential impact on broadcasters and streaming platforms, since both forms of motorsports fall under a single ownership umbrella.
Read More on Racing
...
The deal was expected to close last year, but the investigation for potential anti-competitive effects caused delays, and a purchase of MotoGP was possible only after Liberty Media received official approval.
While the deal's impact on MotoGP cannot be assessed, one can only anticipate an upward trajectory, considering the way F1 has grown globally, especially in the American market since its acquisition by Liberty Media in 2017.
Carmelo Ezpeleta, CEO of Dorna, who will continue to manage the two-wheeled sport, looks forward to accelerating MotoGP's growth. He said in a statement:
"We are very happy that the European Commission has approved the transaction. This is an important milestone confirming the even brighter future that lies ahead for MotoGP.
"MotoGP is one of the most thrilling sports on Earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world. Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing."
Liberty Media President and CEO, Derek Chang added:
"Today's approval from the European Commission marks the final condition to closing Liberty's acquisition of MotoGP. We are thrilled to officially commence Liberty's partnership with Carmelo and his excellent management team.
"MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential, which we will look to realize through deepening the connection with the core fan base and expanding to a wider global audience."
View 0 Comments
Submit Correction
View Editorial & AI Guidelines