LYV - Liberty Media's History of Revving Up Success Bodes Well for MotoGP | Benzinga
Motorcycle racing is hardly the most popular attraction for most fans, even among motor-sports enthusiasts. But Liberty Media—the owner of Formula One and still a significant factor in the newly independent Atlanta Braves—believes its extensive resources and operational expertise can bring the sport to an entirely different level.
Liberty Media completed Monday an acquisition of Dorna Sports, the exclusive commercial rights holder to MotoGP, widely viewed as the world's top motorcycle racing series. The deal places an equity value of $3.8 billion on the operation Liberty Media is acquiring from investment manager Bridgepoint and the Canada Pension Plan Investment Board. MotoGP will be 86% held by Liberty Media, with MotoGP management retaining the rest.
MotoGP, which is set to host 21 motorcycle races across 17 countries in its 2024 season, will be folding into Liberty Media's Formula One Group tracking stock. Dorna CEO Carmelo Ezpeleta will remain in his position, as he has since 1994.
Liberty Media expects to close the ...