Dorna, the company responsible for managing MotoGP, will continue to operate independently under the ownership of Liberty Media’s Formula One Group tracking stock. The company will remain headquartered in Madrid, and Carmelo Ezpeleta will continue to serve as CEO. This development marks a significant milestone for MotoGP and is expected to bring positive changes for Dorna, the MotoGP community, and fans of the sport, according to Ezpeleta.
Under the terms of the deal, Liberty Media will acquire approximately 86% of Dorna, while the management team at Dorna will retain around 14% of the company’s equity. The transaction is projected to be finalized by the end of 2024. The statement released by the parties involved values Dorna/MotoGP at 4.2 billion euros in terms of enterprise value and 3.5 billion euros in terms of equity value.
In addition to MotoGP, Dorna Sports also oversees the World Superbike Championship and MotoE, an all-electric racing series. The acquisition of MotoGP by Liberty Media is seen as a positive move to expand their portfolio of live sports and entertainment assets. Greg Maffei, President and CEO of Liberty Media, expressed enthusiasm for the future growth of MotoGP, aiming to benefit fans, teams, commercial partners, and shareholders.
It is worth noting that this takeover may face regulatory scrutiny due to previous conditions imposed on the sale of Formula One by CVC Capital Partners to Liberty Media in 2017. In 2006, when CVC Capital Partners acquired Formula One, they were required to divest Dorna. Bridgepoint Group, a British private investment company, owned approximately 40% of Dorna before this acquisition. In 2012, Canada Pension Plan Investment Board (CPPIB) purchased a 39% stake from Bridgepoint, while the remaining shares were held by Dorna management. Following the takeover, the stake held by Dorna management has decreased to 14%. Chiranjit Ojha reported on this development.