Liberty Media, the company that has owned the commercial rights to Formula 1 since 2016, has announced plans to acquire commercial rights to MotoGP. The deal is set to complete by the end of 2024 at a cost of $4.5 billion and MotoGP Management will retain 14% ownership after the sale.Once the deal is complete, Liberty Media will be in sole control of the commercial rights for grand prix racing for both cars and bikes going forward.
Although Liberty Media has invested heavily in growing Formula 1 through major schedule and marketing changes, representatives of the brand said on an investor call Monday that current plans for MotoGP are not so extreme. Carmelo Ezpeleta, the CEO of current MotoGP owners Dorna, will continue to run the series going forward.
Source: News Formal (newsformal.com)
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