The American group Liberty Media is continuing its shopping spree in the world of sport: after acquiring Formula 1 in 2017, it has now picked up 86% of Dorna, the company that owns MotoGP, the Superbike World Championship and the FIM Women’s Motorcycling World Championship.

“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” said Greg Maffei, CEO and president of Liberty Media, in a press release on 1 April 2024. “MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash-flow-generative financial profile. Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience. The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”

“This is the perfect next step in the evolution of MotoGP, and we are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” added Carmelo Ezpeleta, CEO of Dorna (a structure indirectly owned by the Canadian pension fund). “We are proud of the global sport we’ve grown, and this transaction is a testament to the value of the sport today and its growth potential. Liberty has an incredible track record in developing sports assets and we could not wish for a better partner to expand MotoGP’s fanbase around the world.” Ezpeleta has been CEO of Dorna since 1994 and will continue to lead the company.

MotoGP is a division of motorbike racing in which racers hit speeds of over 360 km/h (223 mph). Its inaugural season was in 1949 and featured six rounds across Europe; as of 2024, it has grown to include 21 races across 17 countries.

In the deal, Liberty Media will acquire 86% of Dorna, while the management of the latter will retain approximately 14% of their equity in the company. The transaction reflects an enterprise value of €4.2bn and an equity value of €3.5bn. The balance of MotoGP’s existing debt is to remain in place after the deal closes.

The Canada Pension Plan Investment Board (“CPP Investments”), which manages the contributions of some 22m people, managed assets worth €410bn as of the end of 2023.

This article in Paperjam. It has been translated and edited for Delano.