Austin, Texas. Liberty Media, the American company that owns Formula 1, will add the MotoGP championship to its global motorsports portfolio at the end of the year, executives of the leading motorcycle racing series announced on Monday.
Liberty Media will acquire approximately 86% of Dorna Sports, the company based in Spain that owns the commercial and television rights to MotoGP, with an outlay that will be around 4.5 billion dollars (4.2 billion euros).
Dorna indicated that it will remain an independent company under the management of Carmelo Ezpeleta, the series’ executive director since 1994.
Liberty took control of F1 in 2017 and the championship has grown in recent years, boosted by the popularity of the Netflix series Drive to Survivein addition to penetrating the United States market with races in Miami and Las Vegas.
MotoGP will stage 21 grand prix on four continents in 2024
The next race will be the Grand Prix of the Americas in Austin, Texas, on April 14. The circuit built for F1 has hosted MotoGP races since 2013.
Spaniard Jorge Martín leads the drivers’ standings this season, ahead of South African Brad Binder, after two races.
“MotoGP is a global league with a loyal and enthusiastic fan base, entertaining racing and a financial profile that generates significant cash flow,” said Greg Maffei, the president and CEO of Liberty Media. “Carmelo and his management team are responsible for delivering a great sports spectacle that we can expand to a broader global audience. “It is a business with significant room for growth and our intention is to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
Ezpeleta indicated that “this is the perfect next step in the evolution of MotoGP.”
“We are excited about what this milestone brings to Dorna, the MotoGP paddock and racing fans,” he added. “This transaction is a testament to the value of the sport today and its potential for growth.”
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– 2024-04-06 00:27:30
