Liberty Media, the holder of the commercial rights to Formula 1, has acquired 86% of the capital of Dorna, the company that promotes world speed championships including MotoGP and Superbikes, it was announced this Monday.
In a statement, the Spanish company Dorna, holder of commercial and television rights to the MotoGP championship. [onde milita o português Miguel Oliveira]Moto2, Moto3 and MotoE, Superbikes and the Women’s World Championship, explains that he owns about 14% of the capital of a company valued at 4.2 billion euros, whose headquarters “will continue to be in Madrid” and with Carmelo Ezpeleta as executive director. as it has been since 1994.
“We are pleased to expand our sports and entertainment offerings with the acquisition of MotoGP,” said Greg Maffey, president and CEO of Liberty Media, as quoted in Dorna’s statement.
The same official emphasized that “MotoGP is a championship with loyal and enthusiastic fans, exciting racing and a source of income.”
“Carmelo and his leadership have created a great sporting spectacle that we can extend to a more global audience. The business has significant growth opportunities and we are committed to developing MotoGP for fans, teams and commercial partners,” said Greg Maffei.
Dorna, which has held the rights to the World Motorcycle Speed Championship since 1991, will become part of the Liberty Media portfolio but will remain an independent operating company.
“This is the perfect next step in the evolution of MotoGP and we are very pleased with what it will bring to Dorna, the MotoGP paddock and the fans,” emphasized Carmelo Ezpeleta.
Both companies expect the transaction to be completed by the end of 2024.
Author: Lusa
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.