Motor Racing-F1 Owner Liberty Media Set To Take Over MotoGP, Sky Reports

LONDON: Formula One’s U.S.-based owner Liberty Media is expected to announce a takeover of MotoGP’s parent company within days and for more than 4 billion euros ($4.32 billion), Sky News reported on Sunday.

The broadcaster said Liberty chief executive Greg Maffei could confirm the deal as early as Monday during a trip to Madrid.

Liberty and MotoGP’s Spanish-based commercial rights holder Dorna Sports, which is roughly 40% owned by British private investment company Bridgepoint Group, could not be reached immediately for comment.

The Financial Times reported last week that Liberty, chaired by telecoms billionaire John Malone, was in exclusive talks with Bridgepoint to buy Dorna and unite the four and two wheel series.

Dorna, under long-serving chief executive Carmelo Ezpeleta, also promotes the World Superbike Championship and all-electric MotoE.

The takeover could attract regulatory scrutiny. CVC Capital Partners, who sold Formula One to Liberty in 2017, were cleared by the European Commission to buy F1 in 2006 on condition they sold Dorna.

Canada Pension Plan Investment Board (CPPIB) bought a 39% stake in Dorna from Bridgepoint in 2012. The remaining shares are owned by Dorna management.

($1 = 0.9267 euros)

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)