Formula 1 to acquire MotoGP

Liberty Media, the owner of Formula 1, will take over the rights of MotoGP at the end of 2024 following a Euro 4.2 billion ($A7.0 billion) handshake that will see the American firm acquire 86 per cent of Dorna Sports.

Assuming the deal satisfies the competition and foreign investment watchdogs in various jurisdictions, Dorna will still run the series with current CEO Carmelo Ezpeleta remaining at the helm. And with Ezpeleta and his management team retaining a 14 per cent share in the business, the organisation says Dorna will “remain an independently run company attributed to Liberty Media’s Formula One Group tracking stock.”

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Liberty Media President and CEO, Greg Maffei, said Liberty is “thrilled to expand our portfolio of leading live sports and entertainment assets”, which also includes the Superbike World Championship and its associated classes.

“Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience,” he said. “The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners, and our shareholders.”

The announcement comes two weeks before the series lands in the United States for Round 3 of this year’s MotoGP season at Austin’s Circuit of the Americas in Texas – the only time this year MotoGP will race in Liberty Media’s native country.

Ezpeleta, who will turn 78 in 2024, described the agreement as the “perfect next step in the evolution of MotoGP”, adding that the “transaction is a testament to the value of the sport today and its growth potential. Liberty has an incredible track record in developing sports assets and we could not wish for a better partner to expand MotoGP.”