Liberty Media finalizes acquisition of Dorna Sports, securing MotoGP commercial rights

As of June 24, 2025, Liberty Media has successfully completed its acquisition of Dorna Sports, the commercial rights holder of MotoGP, in a landmark deal valued at approximately $4.8 billion (€4.3 billion). This strategic move firmly establishes Liberty Media as a dominant force in global motorsports, adding motorcycle racing’s premier series to a portfolio that already includes Formula 1.

The transaction received unconditional approval from the European Commission after an extensive regulatory review process that began in December 2024. With this acquisition, Liberty Media aims to leverage its expertise in sports management and media rights to accelerate MotoGP’s global growth while maintaining its unique identity within the motorsports landscape.

Key aspects of the acquisition

Regulatory approval

The European Commission’s investigation focused primarily on antitrust concerns related to Liberty Media’s potential dominance of motorsports broadcasting. To secure approval, Liberty Media presented several key arguments, including the broader definition of the relevant market beyond just motorsports, commitments to independent management of F1 and MotoGP, and assurances against foreclosure of rival broadcasters.

This approval process was notably similar to other major sporting acquisitions, including the Lakers sale reaching a record $10 billion, which also required significant regulatory scrutiny before completion.

Financial terms

The transaction values Dorna Sports at €4.3 billion, with Liberty Media acquiring an 84% stake while the remaining 16% stays with existing MotoGP management to ensure operational continuity. Carmelo Ezpeleta will remain as CEO of Dorna, providing stability during the transition period.

The equity consideration consists of approximately 65% cash (€2.3 billion) and 21% in shares (€735 million) of Liberty Formula One common stock. Formula 1 secured $1 billion in committed term loan financing to support the transaction, demonstrating Liberty Media’s financial commitment to the acquisition.

Strategic rationale

Liberty Media’s acquisition strategy centers on diversifying its sports portfolio while applying its successful F1 growth model to MotoGP. The company sees significant untapped potential in expanding MotoGP’s presence in markets like the United States and Asia, similar to how Ryan Reynolds and Rob McElhenney expanding their soccer investments have demonstrated the value of applying entertainment expertise to sports properties.

CEO Derek Chang specifically highlighted MotoGP’s “incredible racing, passionate fanbase, and strong cash flow profile,” noting the company’s intent to deepen connections with core fans while expanding to wider global audiences through innovative digital platforms and content strategies.

Potential synergies

The common ownership of F1 and MotoGP creates numerous synergy opportunities, including cross-promotion between the series, shared digital platforms and streaming services, joint sponsorship packages, and operational efficiencies in logistics and event management.

These synergies could generate significant value through increased audience engagement, higher sponsorship revenues, and cost savings. Industry analysts estimate that combined sponsorship packages could command a premium of 10-15% compared to individual sponsorships.

Historical background

Dorna Sports has controlled the commercial rights to MotoGP since 1992, overseeing the series’ transformation into a global motorsports powerhouse. Under CEO Carmelo Ezpeleta’s leadership since 1994, MotoGP has expanded its calendar to new markets and adapted to changing technologies, including the introduction of the four-stroke era in 2002 and the launch of the MotoE electric motorcycle series.

This acquisition represents a new chapter in MotoGP’s evolution, potentially as significant as the entry of new teams like Cadillac in F1 has been for that series.

Media rights and distribution

Liberty Media’s expertise in media rights management will likely reshape MotoGP’s distribution strategy. Potential changes include bundled F1 and MotoGP rights packages, new streaming platforms offering exclusive content, and greater emphasis on digital distribution to reach younger audiences.

Industry analysts estimate the combined media rights for F1 and MotoGP could be worth over $3 billion annually, with Liberty potentially developing integrated digital platforms similar to the existing F1 TV service.

Potential risks and challenges

While the acquisition offers significant opportunities, Liberty Media faces several challenges, including integrating two distinct organizational cultures, navigating market uncertainties, and managing fan reactions to any changes in the sport’s format or presentation.

According to sports business analysts, Liberty Media must carefully balance enhancing MotoGP’s commercial appeal without compromising the unique identity that has attracted its passionate fan base.

Visual elements (recommendations)

To effectively illustrate this significant motorsport industry development, visual elements should include comparative infographics showing F1 and MotoGP metrics, organizational structure diagrams, and global maps highlighting the complementary market presence of both racing series.

These visuals would help demonstrate the strategic fit between Liberty Media’s existing motorsports assets and their newest acquisition, while highlighting the potential growth markets where Liberty plans to expand MotoGP’s presence.