Formula One’s US-based owner Liberty Media announced the takeover of MotoGP’s parent company Dorna.
“Liberty Media will acquire approximately 86 percent of Dorna, with Dorna management retaining approximately 14 percent of their equity,” MotoGP said in a statement on Monday.
“The transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion ($4.53 billion) and an equity value of €3.5 billion,” the statement added, Reuters reported.
Liberty Media president and CEO Greg Maffei said the company is thrilled to expand its portfolio of leading live sports and entertainment assets with the acquisition of MotoGP.
“We are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” said Carmelo Ezpeleta, CEO of Dorna.
The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities, MotoGP said.
The takeover could attract regulatory scrutiny.
CVC Capital Partners, who sold Formula One to Liberty in 2017, were cleared by the European Commission to buy F1 in 2006 on condition they sold Dorna.
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