Liberty Media and its boss Greg Maffei, already owner of Formula 1, are getting closer and closer to the acquisition of Dorna Sports, the promoter of MotoGP. The latest financial developments and progress in negotiations with the European Commission suggest that the operation will be finalized by the end of the year.
Liberty Mediathe group that owns Formula 1, is moving closer to finalizing the acquisition of
Dorna Sportsthe promoter of MotoGP, with the objective of finalizing the transaction by the end of 2024. This acquisition would mark an important step for the group, which would thus add MotoGP rights to its portfolio, having already dominated the market motorsport with Formula 1.
During a call with investors this week, the boss of Liberty Media, Greg Maffeiannounced that the financial resources necessary to complete the acquisition were now in place. In addition to refinancing F1's credit facilities, Liberty raised 850 million dollars in term loan B and $150 million in term loan A, in order to finance the purchase of
Dorna. Meanwhile, shares of Formula One Group (FWONK) worth $949 million were also issued to supplement this financing.
Greg Maffei praised the work done by Carmelo Ezpeleta and his team
The major remaining legal obstacle concerns the approval of the
European Commissionwhich is currently examining the competition implications of the takeover.
Maffei is optimistic about the outcome of this
antitrust investigationhoping for a final agreement by the end of the year. “ We are making progress with the European Commission, and we hope for an agreement by the end of the year“, he declared, while emphasizing that
Liberty Media would not yet be involved in the operations of Dorna before the transaction is completed.
As part of this acquisition, Liberty
Media also plans to strengthen the appeal and visibility of MotoGP. Maffei praised the efforts of Dorna to quickly organize the season finale at Barcelona due to catastrophic flooding in Valencehighlighting the company's commitment to supporting the local community.
Once the acquisition is finalized, Liberty
expects a bright future for MotoGP, with a 22-race calendar planned for 2025 across 18 countries, and initiatives aimed at boosting the competition.
Related News :