Liberty Media's $4.2bn MotoGP deal finally gets European Commission approval
Formula 1 commercial rights owner, Liberty Media, can finally complete its acquisition of the MotoGP motorcycling world championship after receiving unconditional approval from the European Union's European Commission executive arm.
Liberty Media announced back in April 2024 that it was buying MotoGP rights holder Dorna Sports in a $4.2billion deal. But this was held up after the EC decided to investigate whether or not the move would violate anti-trust rules, given Liberty's F1 rights ownership since 2017.
Advertisement
Liberty had hoped the deal would be completed by the end of 2024, but while this was missed as the EC investigation continued, formal approval had finally been expected as far back as April 2025, per Reuters.
On Monday, Liberty announced it has now received the EC approval and said in a statement the deal 'is now expected to close no later than July 3 2025'. Current Dorna CEO Carmelo Ezpeleta will remain in place heading up the Madrid-based company.
Liberty will acquire 84 percent of Dorna, with its current management retaining the rest of the business. 'The transaction reflects an enterprise value for Dorna of €4.3billion ($4.96billion) and an equity value of €3.7billion ($4.27billion) with the existing debt balance at Dorna expected to remain in place after closing,' a Liberty statement said.
'The purchase price for Liberty Media's 84 percent stake will be paid in cash, including cash on hand at Formula One Group and Formula 1 and proceeds from $1 billion of committed term loan financing at Formula 1. Formula 1's pro forma net leverage following the acquisition is expected to be under 3.5x, which would permanently reduce the margin on F1's Term Loan B to 1.75 percent. Promptly after the transaction closes, Formula One Group expects to draw from Dorna cash and committed term loan proceeds, bringing pro forma leverage at Dorna to just below 5.5x.'
The cash referenced from Liberty's Formula One Group comes from the company's decision to sell a $825million stake in its F1 business to help fund the MotoGP deal.
Once this does close, two former senior F1 figures will join the Dorna board. These are Chase Carey, former F1 CEO, and Sean Bratches, former F1 commercial chief. Bratches is widely credited in F1 for doing the deal that led to the popular Netflix show, 'Drive to Survive'. Carey has remained a Liberty board member since stepping down as F1 CEO at the end of 2020.
'Today's approval from the European Commission marks the final condition to closing Liberty's acquisition of MotoGP,' said Derek Chang, Liberty Media President and CEO, in a statement.
'We are thrilled to officially commence Liberty's partnership with Carmelo and his excellent management team. MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential, which we will look to realize through deepening the connection with the core fan base and expanding to a wider global audience.'
Advertisement
Liberty's interest in MotoGP is shared by other famous F1 figures, including ex-Haas team boss Guenther Steiner, who is currently in talks regarding investing in the Tech3 KTM team.
Steiner recently told The Athletic in an interview that MotoGP is 'undervalued in the moment' and has plenty of potential for growth outside its traditional markets in Spain and Italy.
'I think the sport has got a lot of potential to grow as a sport — a little bit like F1 did (under Liberty since 2017),' Steiner said. 'There is a lot of potential there to attract more fans because it's such a good sport.'
He added: 'I believe in it with or without Liberty. Obviously Liberty, what they did with F1 is like fantastic. And I think they could help make MotoGP bigger, for sure.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Motor 1
31 minutes ago
- Motor 1
'Crafting a Legend:' Koenigsegg Teases New Hypercar Coming This Week
Koenigsegg is preparing to reveal something legendary. The Swedish automaker has uploaded three videos to its Instagram that tease what appears to be a new supercar. The videos are short and artsy, designed to hide the finer details, but a few potential characteristics are visible. One video appears to reveal a vertically oriented brake light on the support for a large Jesko Attack -like wing. The second video shows off a white badge and an air inlet, likely located on the car's hood, but that's not all. The most recent video, uploaded today, provides our best look at the car, highlighting the front fender and greenhouse. It looks like a car you'd expect from Koenigsegg, and it doesn't appear to resemble anything in the company's current lineup. There is also a brief glimpse of the steering wheel spliced with other incomprehensible images. Thankfully, we won't have to wait long to see what Koenigsegg has made. It plans to reveal the car on June 25. It could be a new product line, or the company might be readying a one-off creation for a special client. It's been a few years since the automaker revealed anything new, but it has started producing many of its most recent debuts. Deliveries for the Gemera began this year. The company also offers the limited-run CC850 that it unveiled in 2022. Those two hypercars sit alongside the Jesko Absolut and Jesko Attack in Koenigsegg's current portfolio. Whatever it is, we're excited. Check Out More Koenigsegg News: The Koenigsegg Jesko Just Broke Even More World Records Koenigsegg's CEO Drives a Toyota to Work, Just Like You Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Koenigsegg / Instagram Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
The Drive
33 minutes ago
- The Drive
VW Made a GTI That's Better Than the Golf R
The latest car news, reviews, and features. There are certain automotive truths you just don't question. Porsche will never make the Cayman faster than the 911, for example. Another is that the Golf R is the top dog of Volkswagen hot hatches, and the GTI is the entry-level flavor. But perhaps VW felt that the GTI's 50th anniversary was cause to break from tradition, as a special version the company just revealed, the GTI Edition 50, can not only keep up with the all-wheel-drive Golf R—it's actually the faster hatchback around the Nürburgring. The GTI Edition 50 is an improvement on the GTI Clubsport, a model we don't get here in the States. Our stock GTI produces 241 horsepower, but the Clubsport actually makes 295 hp. VW has cranked that up by another 30 ponies for the Edition 50, for a Golf R-rivaling sum of 320 hp. That's just 8 hp shy of the R, but remember: since the GTI is front-wheel drive and not all -wheel drive, the Edition 50 is sure to be much lighter. The automaker didn't provide hard numbers, but your standard GTI weighs almost 300 pounds less than the R, and that means a lot around the Green Hell. So, that's a very good start. But naturally, VW hasn't stopped there for this milestone-commemorating GTI. An optional performance package adds a tuned suspension with adaptive mounts, higher spring rates, and a ride height 5 mm lower than a typical GTI's. It also contributes—and let's be honest, this is what really makes the difference—semi-slick Bridgestone Potenza Race tires. The rubber itself is both much grippier and even a little lighter than standard equipment, and the forged wheels they're wrapped around tip the scales about 6.6 pounds fewer, per corner. Volkswagen Golf GTI Edition 50. Gruppe C Photography/Volkswagen The upshot of this isn't merely a quick GTI, but Volkswagen says it's the fastest production car it's ever taken around the Nordschleife. Earlier this month, we learned that racer and VW development driver Benjamin Leuchter recorded a 7:46:13 lap in the GTI Edition 50. Back in 2022, Leuchter drove a Golf R 'round the Ring in 7:47.31; however, that run used a different, shorter criterion for what constituted a full lap of the circuit. If you factor that in, this new GTI didn't just improve on the Golf R's time by a second—it beat it by six seconds. Taking all of that into account, if we're basing things purely on speed, the GTI Edition 50 (with the proper equipment) is better than the Golf R. And while I don't often put much stock into paid testimonials, I think the fact Leuchter himself called it 'the most precise and sporty Volkswagen [he's] ever driven' means a lot. VW is still trying to move Golf Rs, after all. Volkswagen Golf GTI Edition 50. Gruppe C Photography/Volkswagen Performance aside, there are other goodies here. Many people love the classic plaid of GTI thrones, but the Edition 50 offers a new design with plaid bolsters and a zoomed-in pattern on the primary fabric insert, with 'GTI' punched out in a bunch of tiny pin-pricks in the upper seatback. Oh, and the seatbelts are red. I love all of it. You may notice a hint of green in that upholstery, and that's because one of the colors VW is offering on this special edition is Dark Moss green metallic. We don't have pics of it yet, but green on any fast car is worth celebrating. Here's Leuchter driving a prototype GTI Edition 50 around the Nürburgring to set its record lap. Gruppe C Photography/Volkswagen Volkswagen hasn't said how many examples of this super GTI it plans to build, let alone what they'll cost. Even worse, Volkswagen of America told us that 'as it stands,' the Edition 50 won't come out here. That's not terribly surprising, considering we're already missing out on the Clubsport—but it is still disappointing. Got tips? Send 'em to tips@
Fast Company
35 minutes ago
- Fast Company
Hims & Hers stock plummets after Novo Nordisk ends partnership over 'knock-off' Wegovy
This morning, the Danish pharmaceutical giant Novo Nordisk announced the abrupt end of its brief partnership with telehealth company Hims & Hers Health, Inc. (NYSE: HIMS), citing concerns over Hims & Hers' 'knock-off' weight loss drugs. Now, Hims & Hers' shares are plummeting as investors react to the news. It's the latest update in a somewhat volatile year for Hims & Hers. Just this April, the company's stock spiked after it initially announced a collaboration with Novo Nordisk that allowed Hims & Hers to sell Novo Nordisk's FDA-approved weight loss drug, Wegovy, through its platform. But less than two months later, that partnership is fracturing after Novo Nordisk's claim that Hims & Hers engaged in 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk.' At the time of this writing, HIMS stock is down 32.6% since market open. Here's what to know about the break-up: The shortage that fueled knock-off Wegovy Back in 2022, the Food and Drug Administration (FDA) declared a shortage of GLP-1 medications including Ozempic and Wegovy. Under this shortage notice, pharmacies were permitted to make compounded versions of the brand name drugs using their active ingredient, semaglutide, and sell them at a lower cost. Hims & Hers was one company that took part in selling a compounded—and non-FDA-approved—version of Wegovy. Then, this February, the FDA announced that Ozempic and Wegovy were no longer categorized under a shortage. With the brand name drugs fully back on the market, the FDA gave compounders 60 to 90 days to stop making copies of the patented drugs. At the time, Hims & Hers stated in a regulatory filing that, while it saw pathways to continue offering access to certain compounded GLP-1s after the shortage, it could not 'guarantee that we will be able to continue offering these products in the same manner, to the same extent, or at all.' However, an analyst told Reuters that Hims & Hers appeared poised to continue selling compounded semaglutide using 'personalized doses' after the shortage officially ended. Why is Novo Nordisk cutting ties now? In the wake of the FDA's shortage notice, Hims & Hers announced in April that it was entering a 'long-term collaboration' with Novo Nordisk to offer Wegovy directly to its consumers. Now, though, Novo Nordisk is breaking off the commitment over claims that Hims & Hers has not acted fast enough to stop selling its compounded GLP-1. Other telehealth companies, like Ro and Noom, have similarly faced criticism for continuing to sell their own compounded GLP-1 despite agreements with Eli Lilly, the maker of Zepbound. In an email to Fast Company, a Novo Nordisk spokesperson explained that 'semaglutide compounding is permitted under US compounding laws only in rare instances,' adding that other companies it's working with have 'demonstrated a good faith effort to transition patients to authentic, FDA-approved Wegovy.' However, the spokesperson continued, 'after over one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization' and are disseminating deceptive marketing that puts patient safety at risk. This is unacceptable and that is why we have decided to end the collaboration.' That personalization, involves offering the same drug; however, at different doses. In a press release published this morning, Novo Nordisk also noted that it is 'deeply concerned' about knock-off drugs 'made with foreign illicit active pharmaceutical ingredients.' 'Based on Novo Nordisk's investigation, the 'semaglutide' active pharmaceutical ingredients that are in the knock-off drugs sold by telehealth entities and compounding pharmacies are manufactured by foreign suppliers in China,' the release reads. 'According to a report from the Brookings Institute, FDA has never authorized or approved the manufacturing processes used by any of these foreign suppliers to make semaglutide, nor has FDA ever reviewed or authorized the quality of the 'semaglutide' they produce.' Hims & Hers did not immediately respond to Fast Company 's request for comment on Novo Nordisk's claims. On X, Novo Nordisk CEO Andrew Dudam said 'Novo Nordisk's commercial team increasingly pressured us to control clinical standards and steer patients to Wegovy regardless of whether it was clinically best for patients. We refuse to be strong-armed by any pharmaceutical company's anticompetitive demands that infringe on the independent decision making of providers and limit patient choice.' He went on to say 'We will continue to offer access to a range of treatments, including Wegovy, to ensure providers can serve the individual needs of patients.'
