Liberty Media pronounces acquisition of MotoGP
Acquisition of world’s main motorbike racing championship expands Liberty Media’s portfolio of high-quality international sports activities belongings
Monday, 01 April 2024
Liberty Media Company has introduced an settlement to accumulate MotoGP
. MotoGP is the head of two wheels, with 22 of the quickest riders competing on purpose-built prototype bikes on among the world’s best racetracks, reaching prime speeds above 360 kilometers per hour/223 miles per hour. From the primary season in 1949 that staged six rounds throughout Europe, the game has grown to comprise greater than 20 Grands Prix throughout 5 continents, with the tv broadcast reaching tons of of hundreds of thousands world wide.
This new settlement will see Dorna Sports activities S.L., the unique industrial and tv rights holder of MotoGP, stay an independently run firm attributed to Liberty Media’s System One Group monitoring inventory. Carmelo Ezpeleta, who has been CEO since 1994, will stay in his place and proceed to run the enterprise along with his administration crew. The enterprise will stay based mostly in Madrid.
Dorna additionally holds unique rights to different motorbike racing sequence, together with MotoGP feeder sequence Moto2 and Moto3, the FIM Enel MotoE World Championship, the MOTUL FIM Superbike World Championship and the brand new FIM Ladies’s Circuit Racing World Championship.
Liberty Media will purchase roughly 86% of Dorna, with Dorna administration retaining roughly 14% of their fairness within the enterprise. The transaction displays an enterprise worth for Dorna/MotoGP of €4.2 billion and an fairness worth of €3.5 billion, with MotoGP’s current debt stability anticipated to stay in place after shut.
“We’re thrilled to develop our portfolio of main reside sports activities and leisure belongings with the acquisition of MotoGP,” mentioned Greg Maffei, Liberty Media President and CEO. “MotoGP is a world league with a loyal, enthusiastic fan base, charming racing and a extremely money move generative monetary profile. Carmelo and his administration crew have constructed an excellent sporting spectacle that we will develop to a wider international viewers. The enterprise has important upside, and we intend to develop the game for MotoGP followers, groups, industrial companions and our shareholders.”
“That is the right subsequent step within the evolution of MotoGP, and we’re excited for what this milestone brings to Dorna, the MotoGP paddock and racing followers,” mentioned Carmelo Ezpeleta, CEO of Dorna. “We’re pleased with the worldwide sport we’ve grown, and this transaction is a testomony to the worth of the game at this time and its development potential. Liberty has an unimaginable monitor document in creating sports activities belongings and we couldn’t want for a greater associate to develop MotoGP’s fanbase world wide.”
The acquisition is anticipated to be accomplished by year-end 2024 and is topic to the receipt of clearances and approvals by competitors and international funding legislation authorities in varied jurisdictions.
Investor Name
Liberty Media’s President and CEO, Greg Maffei, and Dorna’s CEO, Carmelo Ezpeleta, will host an investor convention name at 8:30am ET / 2:30pm CEST on April 1, 2024 to debate the acquisition in additional element. The decision may be accessed by dialing +1 (215) 268-9864 (United States), +34 900 834 876 (Spain) or +44 (0)800 756 3429 (United Kingdom), affirmation code 13745617 no less than 10 minutes previous to the beginning time. For a full record of worldwide toll-free entry numbers, please go to https://www.incommconferencing.com/international-dial-in. The decision may even be broadcast reside throughout the web and archived on Liberty Media’s web site. Presentation supplies for use throughout the investor name can be posted to the Liberty Media web site prematurely. To entry the webcast and accompanying presentation supplies go to https://www.libertymedia.com/traders/news-events/ir-calendar. An archive of the webcast may even be accessible on Liberty Media’s web site after applicable filings have been made with the SEC.
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