P1racenews AI automatic summary:
F1 owner Liberty Media is set to acquire the pinnacle of two-wheeled motorsport by the conclusion of the year.
Formula E chairman Alejandro Agag has expressed concerns over Liberty Media’s acquisition of MotoGP, fearing that it will grant the US-based company excessive influence in negotiations for new media rights deals with broadcasters. The purchase, announced in April, would see Liberty Media take over the two-wheeled racing series for $4.7 billion, sparking worries about potential market dominance. John Malone, who chairs both Liberty Media and FE controlling stakeholder Liberty Global, holds considerable voting rights in both organizations, further raising eyebrows about the merger’s impact on competition. The prior forced sale of MotoGP by the company Liberty Media acquired F1 from, CVC, due to European Commission concerns about reduced television rights competition in the EU underscores Agag’s apprehensions. Agag has urged the European Commission to scrutinize the MotoGP purchase, emphasizing the need for measures ensuring fair market practices but stopping short of calling for outright blockage of the acquisition. His stance highlights the complex interplay between competition law, corporate consolidation, and media rights in the high-stakes world of motorsports.
