US-based F1 owner Liberty Media announces MotoGP takeover in US$4.5b deal

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PARIS, April 1 — Formula One owners Liberty Media have agreed to buy MotoGP on Monday in a deal valued at around US$4.5 billion (RM21.3 billion), the American company said....

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The acquisition is expected to be completed by the end of 2024 subject to clearances and approvals by competition and foreign investment law authorities in various jurisdictions.Private equity firm CVC Capital Partners had owned both F1 and MotoGP but was forced to sell the motorcycle series to buy F1 after EU competition regulators raised objections.

“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.”

Source: News Formal (newsformal.com)

 

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