Liberty Media, which owns Formula 1, took an important step in acquiring MotoGP by submitting a request for approval to the European Commission last Thursday for the acquisition of MotoGP. Thus, the formalization and completion of the purchase by the end of the year, as indicated by CEO Greg Maffei during a shareholder meeting, should become a reality.
To finance this operation, valued at several hundred million dollars, Liberty sold a substantial part of F1 last summer. Maffei recently confirmed that financing for the acquisition is secure, with the only remaining hurdle being regulatory approval from the European Commission.
Despite some criticism related to the potential monopoly of owning both F1 and MotoGP, Maffei expressed optimism about approval: 'We submitted the request to the European Commission this morning and we are confident of having a response by the end of the year'said Maffei, quoted by Motorsport.
The Commission confirmed receipt of the application and set a provisional deadline of December 19, 2024 for a decision.
MotoGP: A global appeal for Liberty Media
Maffei highlighted the unique appeal of MotoGP, from the adrenaline of racing with motorcycles leaning 60 degrees and speeds exceeding 350 km/h, to the non-stop action of 45-minute races filled with overtaking. He insisted that this format is particularly captivating for young audiences.
Additionally, MotoGP offers valuable content for broadcasters, with up to 25 hours of transmissions per weekend, covering the Moto3, Moto2 and MotoGP series. Diversity and fan engagement potential were identified as key elements in the purchasing decision.
This is a rare opportunity to acquire a global asset with a diversified revenue model and an already growing fan baseunderlined the executive.
In 2024, audience and event attendance continues to grow, with a 9% increase compared to 2023. This year's French GP set a record, welcoming 297,000 spectators across the weekend.
US focus and F1 influence
Inspired by the successful expansion of Formula 1 in the United States, notably with the series Drive to Survive of Netflix, Liberty Media plans to replicate this strategy with MotoGP. Currently, the category already has an event at the Circuit of the Americas in Austin, but Maffei revealed intentions to strengthen the presence in the United States.
'The US has been crucial to the growth of F1, and we believe there is similar potential in MotoGP'he said, adding that there is also interest in local partnerships and the expansion of North American teams, leveraging the appeal of brands like Harley-Davidson.
