In April, Liberty Media announced plans to acquire a large majority stake in Dorna, the MotoGP organizer. Seven months later, the deal – which is still subject to approval from competition authorities in Europe – is nearing completion.
The American group, which has been steering the fortunes of Formula 1 since 2017, announced in August the sale of $825 million of its stake in the competition to finance the acquisition of Dorna. And at its most recent quarterly earnings presentation, Liberty revealed that it’secured all financing for the transaction’.
To this end, the company has taken out $850 million in B loans and $150 million in A loans to finance the purchase of MotoGP. There are also $949 million in FWONK shares.
However, approval from the European Commission is still pending. According to Liberty Media CEO Greg Maffei, this is ‘the only remaining legal obstacle‘, but he hopes it will be overcome by the end of the year.
