Liberty Media has acquired motorcycle racing championship company MotoGP, the company said Monday.
Liberty will acquire the Madrid, Spain-based MotoGP motorcycle racing outfit, which will be attributed to Liberty Media’s Formula One Group tracking stock, the company said. U.S.-based Liberty Media, chaired by John Malone, will acquire 86% of MotoGP, with MotoGP management retaining approximately 14%.
The transaction reflects an enterprise value for MotoGP of 4.2 billion euros ($4.5 billion) and an equity value of 3.5 billion euros (about $3.8 billion), according to Liberty.
MotoGP, which launched in 1949, is expected to host 21 races across 17 countries during its 2024 season. Dorna CEO Carmelo Ezpeleta will continue to run the MotoGP business, Liberty said.
As Bloomberg Media noted, Liberty Media bought Formula One in 2016 and has since expanded that circuit's reach in the United States, attempted to grow the sport’s popularity through digital streaming and struck gold with the Netflix show Drive to Survive.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media president and CEO Greg Maffei said in a statement. “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.”
Dorna's Ezpeleta added: “This is the perfect next step in the evolution of MotoGP, and we are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans. 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 MotoGP’s fanbase around the world.”
