Ride to survive?
Formula One commercial rights holder Liberty Media has taken control of the MotoGP motorcycle racing series.
Liberty Media purchased 86% of MotoGP rights holder Dorna Sports in a deal that valued the series at approximately $4.5 billion.
“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,†Liberty Media President and CEO Greg Maffei said in a press release. “MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile.”
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“The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.â€
Colorado-based Liberty Media took control of Formula One in 2017 and has overseen a period of growth driven in parts by the Netflix documentary series “Drive to Survive” and an expansion of U.S. races from one to three.
MotoGP visits the Circuit of the Americas in Austin, Tex., this weekend, for its only U.S. race on the calendar. The track is also used by Formula One.
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There are currently no U.S. riders competing in the MotoGP series, but there is one, Joe Roberts, in the Moto2 support series.