Liberty Media Officially Purchases MotoGP

 

MotoGP was officially purchased by Liberty Media from Dorna Sports, making the United States company control the two biggest races in the world: MotoGP and Formula One (F1).

 "Liberty Media Corporation has announced an agreement to acquire MotoGP. The acquisition of the world's leading motor racing championship expands Liberty Media's portfolio of high-quality global sports assets," wrote MotoGP's official statement on Monday (1/4) afternoon.

 Liberty Media bought an 86 percent stake in MotoGP, with Dorna Sports retaining 14 percent. The value of the MotoGP company is estimated at 4.2 billion euros

 Even though it is officially the new owner of MotoGP, Liberty Media still gives Dorna Sports freedom to manage MotoGP, Moto2 and Moto3. Even Carmelo Ezpeleta still holds the position as CEO of Dorna Sports.

 "This new agreement will see Dorna Sports, MotoGP's exclusive commercial and television rights holder, remain an independent company linked to Formula One tracking stock Group Liberty Media."

 "Carmelo Ezpeleta, who has served as CEO of [Dorna] since 1994, will remain in his position and continue to run the business with his management team. [Dorna's] business will remain based in Madrid," wrote MotoGP.

 Rumors of Liberty Media buying MotoGP from Dorna Sports have emerged in the last few days. Liberty Media Corporation is a media company owned by American businessman, John C. Malone. The American company bought the Formula One Group at the end of 2016 for US$4.4 billion.

 "We are thrilled to expand our portfolio of leading sports and entertainment assets with the acquisition of MotoGP. MotoGP is a global competition with a loyal and enthusiastic fan base, captivating racing and a financial profile that generates high cash flow," said Greg Maffei, President and CEO of Liberty Media.

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