Liberty Media, the owner of Formula 1, has received the green light from the European Commission for its ambitious €4.3 billion ($4.96 billion) acquisition of Dorna Sports, the organization behind MotoGP. The deal, first announced in April 2024, has now cleared its final regulatory hurdle and is expected to close by July 3, 2025.
The European Commission confirmed the unconditional approval of the transaction on Monday, following an extensive review. The investigation concluded that Liberty Media’s ownership of both Formula 1 and MotoGP would not significantly reduce competition in the licensing of broadcasting rights for sports content. “The Commission found that on such markets the companies are not close competitors for the licensing of broadcasting rights for sports content,” said the body in a statement. “Therefore, the transaction will not remove important competitive constraints between Formula 1 and MotoGP.”
A Strategic Move for Growth
The acquisition reflects Liberty Media’s commitment to expanding its footprint in global motorsports. Derek Chang, Liberty Media’s President and CEO, celebrated the clearance, calling MotoGP a “highly attractive premium sports asset” with thrilling races, a loyal fanbase, and opportunities for global growth.
“We believe the sport and brand have significant growth potential, which we will look to realize through deepening the connection with the core fan base and expanding to a wider global audience,” Chang said.
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Liberty CEO Derek Chang at the Miami F1 Grand Prix in May
Liberty Media will acquire an 84% stake in Dorna Sports, valued at an equity price of €3.7 billion ($4.27 billion). The remaining 16% will remain under the control of Dorna’s management team, which will continue to lead the Madrid-headquartered company under CEO Carmelo Ezpeleta.
The deal also involves $1 billion in term loan financing from Formula 1, with Liberty’s pro forma net leverage balanced at under 3.5x post-acquisition. Dorna itself will retain its existing debt structure, with pro forma leverage expected just below 5.5x.
Key Figures Join the Fold
Liberty Media’s acquisition will bring new faces to MotoGP’s leadership table. Former F1 CEO Chase Carey and former F1 commercial chief Sean Bratches, known for pivotal initiatives such as Netflix’s “Drive to Survive” series, will join Dorna’s board. Their expertise is expected to mirror the successful transformation of Formula 1 under Liberty Media’s stewardship since 2017.
For his part, Ezpeleta welcomed Liberty’s involvement, expressing enthusiasm about the resources and strategic direction that will help MotoGP expand its reach.
MotoGP
Unlocking MotoGP’s Potential
MotoGP is already a global motorsport staple, particularly in traditional markets like Spain and Italy. Yet, according to former Haas F1 team principal Guenther Steiner, who voiced his support for Liberty’s plans, the championship remains “undervalued.”
“I think the sport has got a lot of potential to grow as a sport—a little bit like F1 did under Liberty since 2017,” Steiner commented. “There is a lot of potential there to attract more fans because it’s such a good sport.”
Through targeted investments and strategic marketing, Liberty Media aims to bring MotoGP to a larger global audience while further engaging its core fanbase. Modern innovations in promotion, akin to Formula 1’s renaissance, could position MotoGP for a new era of prominence on the world stage.
Chang summarized Liberty’s vision, saying, “This partnership with Carmelo and his excellent management team marks the start of an exciting chapter for MotoGP. Together, we aim to elevate the brand to even greater heights.”
With regulatory approval secured and planning underway, the acquisition sets the foundation for MotoGP to solidify its status as a premier global motorsport alongside Formula 1. Fans can expect significant developments as the deal officially concludes next month.