P1racenews AI automatic summary:
F1 owners issued confirmation for $4.2BILLION MotoGP takeover
Liberty Media, the owners of F1, have received approval to acquire MotoGP promoter Dorna in a billion-dollar deal, now progressing after European Commission’s green light.
The estimated $4.2 billion acquisition, announced in April 2024, has gained unconditional approval over a year later.
Liberty Media plans to enhance MotoGP’s global presence, similar to F1’s growth under their ownership since 2017, with new commercial rights and strategies.
Former CEO Greg Maffei’s initiatives like Drive to Survive and F1 Movie boosted F1’s popularity, and successor Derek Chang aims to replicate this success in MotoGP.
The final phase sees Liberty Media acquiring 86% of Dorna, with CEO Carmelo Ezpeleta continuing to lead the Spanish company.
European Commission’s approval statement emphasizes Liberty Media’s promising partnership with Dorna and plans for MotoGP’s expansion and fan engagement.