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Liberty Media, the parent organization of Formula One, has announced the acquisition of Dorna, the parent company of MotoGP, in a deal valued at 4.2 billion euros.

Dorna will maintain its autonomy within Liberty Media’s Formula One Group and continue to operate from Madrid, with CEO Carmelo Ezpeleta remaining in his role. The transaction, expected to be finalized by the end of 2024, will see Liberty Media obtaining approximately 86 percent of Dorna, with Dorna management retaining around 14 percent equity.

Liberty Media President and CEO Greg Maffei expressed enthusiasm for the acquisition, citing significant growth potential for MotoGP globally. Maffei also highlighted the success of Formula One’s expansion in the United States since Liberty’s takeover, hinting at similar opportunities for MotoGP in the United States of America. This was concerning the current MotoGP‘s European market stronghold is primarily in Spain and Italy.

Liberty Media intends to file for anti-trust clearance in various jurisdictions, including the EU, UK, Brazil, and Australia, along with foreign direct investment filings in Spain and Italy.