MRW Issue 41

NEWS DESK
LIBERTY MEDIA (F1 OWNERS) TO
ACQUIRE DORNA (MOTOGP)
Liberty Media Corporation has announced its
agreement to acquire MotoGP, the pinnacle
of two-wheel racing. With 22 of the fastest
riders competing on purpose-built prototype
motorcycles, MotoGP races reach top speeds
exceeding 360 kilometers per hour (223 miles per
hour) on renowned racetracks worldwide. From
its inception in 1949, where six rounds across
Europe marked its debut season, MotoGP has
expanded to encompass over 20 Grands Prix
across five continents, captivating hundreds of
millions of viewers through its global television
broadcast.
Under this new agreement, Dorna Sports S.L.,
the exclusive commercial and television rights
holder of MotoGP, will continue to operate
independently as part of Liberty Media’s Formula
One Group tracking stock. Carmelo Ezpeleta,
CEO since 1994, will maintain his leadership
position, overseeing the business from its
headquarters in Madrid.
In addition to MotoGP, Dorna holds exclusive
rights to various motorcycle racing series,
including Moto2, Moto3, the FIM Enel
MotoE World Championship, the MOTUL FIM
Superbike World Championship, and the new FIM
Women’s Circuit Racing World Championship.
The acquisition will see Liberty Media acquiring
approximately 86% of Dorna, with Dorna’s
management retaining around 14% equity. The
enterprise value for Dorna/MotoGP is estimated
at €4.2 billion, with an equity value of €3.5 billion.
Existing debt balances of MotoGP are expected
to remain unchanged post-transaction.
Greg Maffei, President and CEO of Liberty Media,
expressed excitement about expanding their
portfolio with MotoGP, citing its global appeal,
devoted fanbase, thrilling racing, and robust
financial performance. Maffei praised Carmelo
Ezpeleta and his management team for building
MotoGP into a premier sporting spectacle,
anticipating further growth under Liberty Media’s
stewardship.
In response, Carmelo Ezpeleta hailed the
acquisition as a significant milestone in
MotoGP’s evolution, expressing confidence in
Liberty Media’s track record in developing sports
assets. He emphasized their shared commitment
to expanding MotoGP’s global audience while
preserving its core values and competitive spirit.
The transaction is expected to conclude by yearend
2024, subject to clearance from competition
and foreign investment authorities.
For investors interested in learning more about
the acquisition, an investor conference call will be
hosted by Greg Maffei and Carmelo Ezpeleta on
April 1, 2024.
About Liberty Media Corporation:
Liberty Media Corporation operates and owns
interests in various media, communications,
and entertainment businesses, organized into
three tracking stock groups: the Liberty SiriusXM
Group, the Formula One Group, and the Liberty
Live Group.
About Dorna Sports, S.L. & MotoGP:
Dorna Sports has been the exclusive commercial
and television rights holder of the FIM MotoGP
World Championship since 1991. Based in
Madrid, Dorna oversees MotoGP and other
leading motorcycle racing championships
worldwide, including Moto2, Moto3, MotoE,
the Superbike World Championship, and the FIM
Women’s Circuit Racing World Championship.