F1 owners CONFIRM massive £3.5bn acquisition

Formula 1 owners Liberty Media have confirmed their acquisition of motorbike racing series MotoGP via Dorna, valuing the company at €4.2bn (approximately £3.6bn).

The deal is likely to finally go through before the end of the year, subject to various legal approvals.

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Liberty will take on 86% of the company, leaving MotoGP management with 14% of the company when the deal has been finalised.

It's unclear at this point whether Liberty are planning to use their new sport to tie into Formula 1 and create a closer link between two-wheel and four-wheel racing as they move forward.

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Liberty president: We intend to grow MotoGP

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."

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