Formula 1 owner Liberty Media to buy company behind MotoGP world motorcycle racing championship for €4.2bn

Liberty Media Corporation has entered into an agreement to acquire Dorna Sports, the exclusive commercial rights holder to the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board. From its first season in 1949 that staged six rounds across Europe, MotoGP has grown significantly and will host 21 races across 17 countries for the 2024 season. Liberty Media will acquire 86 per cent of MotoGP with MotoGP management retaining approximately 14 per cent of their equity in the business. 

Carmelo Ezpeleta, who has been chief executive of Dorna since 1994, will continue to run the business headquartered in Madrid. Greg Maffei, Liberty Media president and CEO, said: "We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP.  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."

Carmelo Ezpeleta, CEO of Dorna, 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."

The acquisition is expected to be completed by year-end 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions. Goldman Sachs & Co is acting as financial adviser to Liberty Media and is providing committed debt financing for the transaction, and O'Melveny & Myers is acting as legal counsel. Moelis & Company is acting as financial adviser to Dorna, and Latham & Watkins is acting as legal counsel.