Formula One owners Liberty Media have agreed to buy MotoGP on Monday in a deal valued at around $4.5 billion, the American company said.
MotoGP said in a statement that Liberty Media would acquire"approximately 86 percent" stake from Spain-based owners Dorna in a deal valued at 4.2 billion euros .
"Liberty Media Corporation has announced an agreement to acquire MotoGP. MotoGP is the pinnacle of two wheels," read a statement issued by MotoGP. "The transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion and an equity value of €3.5 billion, with MotoGP's existing debt balance expected to remain in place after close."According to a report last week in the Financial Times Qatar Sports Investments , owners of French champions Paris Saint-Germain, and TKO Group Holdings, which comprises mixed martial arts organisation UFC and World Wrestling Entertainment , had also held talks with Dorna.
Long serving CEO Carmelo Ezpeleta will remain in the post he has occupied since 1994 with the business headquarters remaining in Madrid."This is the perfect next step in the evolution of MotoGP, and we are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans," said Ezpeleta.
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