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Old April 1st, 2024, 09:31 AM   #1
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[roadracingworld.com] - US-Based Liberty Media Buying MotoGP And WorldSBK

Liberty Media announces acquisition of MotoGP™  Acquisition of world’s leading motorcycle racing championship expands Liberty Media’s portfolio of high-quality global sports assets Monday, 01 April 2024 Liberty Media Corporation has […]

The post US-Based Liberty Media Buying MotoGP And WorldSBK appeared first on Roadracing World Magazine | Motorcycle Riding, Racing & Tech News.



Liberty Media announces acquisition of MotoGP

Acquisition of world’s leading motorcycle racing championship expands Liberty Media’s portfolio of high-quality global sports assets

Monday, 01 April 2024

Liberty Media Corporation has announced an agreement to acquire MotoGP. MotoGP is the pinnacle of two wheels, with 22 of the fastest riders competing on purpose-built prototype motorcycles on some of the world’s greatest racetracks, reaching top speeds above 360 kilometers per hour/223 miles per hour. From the first season in 1949 that staged six rounds across Europe, the sport has grown to comprise more than 20 Grands Prix across five continents, with the television broadcast reaching hundreds of millions around the world.

This new agreement will see Dorna Sports S.L., the exclusive commercial and television rights holder of MotoGP, remain an independently run company attributed to Liberty Media’s Formula One Group tracking stock. Carmelo Ezpeleta, who has been CEO since 1994, will remain in his position and continue to run the business with his management team. The business will remain based in Madrid.

Dorna also holds exclusive rights to other motorcycle racing series, including MotoGP feeder series Moto2 and Moto3, the FIM Enel MotoE World Championship, the MOTUL FIM Superbike World Championship and the new FIM Women’s Circuit Racing World Championship.

Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity in the business. The transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion and an equity value of €3.5 billion, with MotoGP’s existing debt balance expected to remain in place after close.

“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” said Greg Maffei, Liberty Media President and CEO. “MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile. Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience. The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”

“This is the perfect next step in the evolution of MotoGP, and we are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” said Carmelo Ezpeleta, CEO of Dorna. “We are proud of the global sport we’ve grown, and this 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’s fanbase around the world.”

The acquisition is expected to be completed by year-end 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions.

Investor Call

Liberty Media’s President and CEO, Greg Maffei, and Dorna’s CEO, Carmelo Ezpeleta, will host an investor conference call at 8:30am ET / 2:30pm CEST on April 1, 2024 to discuss the acquisition in more detail. The call can be accessed by dialing +1 (215) 268-9864 (United States), +34 900 834 876 (Spain) or +44 (0)800 756 3429 (United Kingdom), confirmation code 13745617 at least 10 minutes prior to the start time. For a full list of international toll-free access numbers, please visit https://www.incommconferencing.com/i...tional-dial-in. The call will also be broadcast live across the internet and archived on Liberty Media’s website. Presentation materials to be used during the investor call will be posted to the Liberty Media website in advance. To access the webcast and accompanying presentation materials go to https://www.libertymedia.com/investo...ts/ir-calendar. An archive of the webcast will also be available on Liberty Media’s website after appropriate filings have been made with the SEC.

The post US-Based Liberty Media Buying MotoGP And WorldSBK appeared first on Roadracing World Magazine | Motorcycle Riding, Racing & Tech News.
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