F1 owner Liberty Media finally set to seal deal to take control of MotoGP after European approval
HighlightsLiberty Media has received unconditional approval from the European Commission to acquire 84% of Dorna Sports, the rights holder of MotoGP, valuing the company at 4.3 billion euros ($4.97 billion). The European Commission concluded that Formula 1 and MotoGP do not significantly compete for broadcast rights, allowing the transaction to proceed without raising concerns over market competition. Dorna Sports will retain key management staff, including long-time chief executive Carmelo Ezpeleta, while Liberty Media will introduce its veterans from the Formula 1 takeover to help grow MotoGP's brand and audience.
Liberty Media
's made a successful business of racing on four wheels. Now, it's time for two wheels.
Formula 1
owner Liberty Media is finally set to complete a deal to take control of
motorcycle racing
series
MotoGP
after receiving approval from the
European Commission
.
Liberty Media said Monday the "unconditional" approval was the last step in completing the deal to buy 84% of Spain-based MotoGP rights holder
Dorna Sports
. It values Dorna at 4.3 billion euros ($4.97 billion), Liberty said.
"MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile," Liberty Media president and CEO Derek Chang said in a statement.
"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."
Liberty said the deal, which was first announced in April 2024, could go through by July 3.
The process was held up in December when the European Commission opened what it called an "in-depth investigation" into whether the agreement would hike the cost of broadcast rights for motorsports events.
The European Commission said its investigation found F1 and MotoGP are "not close competitors for the licensing of broadcasting rights for sports content" in national markets, and that broadcasters would be able to choose from other sports with similarly large audiences.
"Therefore, the transaction will not remove important competitive constraints between Formula 1 and MotoGP," the commission said in a statement.
Liberty Media immediately transformed how F1 was run when it took over in 2017. The U.S. company installed its own people in key positions to end decades with Bernie Ecclestone in charge.
This time, it's keeping key staff in place.
MotoGP management keeps a minority stake and long-time Dorna chief executive
Carmelo Ezpeleta
remains in charge of MotoGP. But Liberty said he will be joined on the Dorna board by
Chase Carey
and Sean Bratches, two veterans of Liberty's takeover of F1 in 2017. They were part of its efforts to grow and modernize F1 as a business, especially in the United States.
Since then, F1 has attracted a new audience through the Netflix docu-series "
Drive To Survive
" and expanded its calendar to a record 24 races, including lucrative new showpieces in locations like Miami, Las Vegas and Saudi Arabia.
MotoGP is running a 22-race calendar this year. It includes events in markets where F1 has either never raced, like Indonesia, the Czech Republic and Thailand, or hasn't raced in years, like Argentina and Malaysia.
Four of the MotoGP races are in Spain, with only one in the U.S., at the Circuit of the Americas in Austin, Texas in March. The Circuit of the Americas is one of five tracks which host both F1 and MotoGP this year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
19 minutes ago
- Hans India
Kailasagiri hill park all set to get a facelift
Visakhapatnam: The most-frequented Kailasagiri is set to go through a major revamping exercise as efforts are on to develop the hilltop park as one of the sought-after tourist spots in the City of Destiny. If things go as planned, a master plan is going to be drafted to take the project forward. It includes creation of an elevated walkway along the outer edge of the hill that would facilitate a 360-degree view of the city. With big plans in place where the artificial platform gets integrated with nature in a seamless manner, about 50 acres of the hilltop park will be developed like never before. When CEO of Singapore-based Mandai Wildlife Group Mike Barclay recently paid a visit to the hilltop park along with Visakhapatnam MP M Sribharat and other officials, the tourist spot was considered for a serious transformation. 'It's a beautiful tourist spot. Currently, it is not much organised. The idea is to redevelop the entire stretch way better,' reasons the MP. Incorporating best practices recommended by Mike Barclay, the project has been proposed to be transformed at a stretch. 'The CEO of Mandai Wildlife Group has a commendable track record. When he was the CEO of Sentosa Development Corporation (SDC) before joining the Wildlife Reserves Singapore, he restructured the SDC and was instrumental in drawing massive footfall to Sentosa that rose to 20 million from a mere 5.6 million,' Sribharat elaborates. Following the submission of a master plan, Visakhapatnam Metropolitan Region Development Authority will focus on a holistic transformation of Kailasagiri. 'Tourists visiting Visakhapatnam should have a minimum three-day itinerary wherein they could visit the beach stretches, Kailasagiri, Indira Gandhi Zoological Park. Kambalakonda Eco Tourism Park and return home reminiscing happy travel memories,' the MP emphasises. With the proposal brought to the notice of Chief Minister N Chandrababu Naidu and Mandai Wildlife Group sharing best practices, Kailasagiri is bracing for a structural change, adding a host of tourist-attractive features to it.
Time of India
an hour ago
- Time of India
Symbiotec Pharmalab plans IPO to boost specialty pharma market
Mumbai: Symbiotec Pharmalab , a global leader in manufacturing corticosteroid and hormone active pharmaceutical ingredients (APIs), is planning an initial public offering (IPO) in the next 12 months at a targeted valuation of about $1 billion, said people familiar with the matter. The Indore-based company has appointed Nomura, JM Financial , and Motilal Oswal as lead managers for the proposed IPO, which aims to raise ₹2,000-2,500 crore, and give a partial exit to existing private equity investors, the people said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Motilal Oswal Private Equity (MOPE) and healthcare-focused PE firm InvAscent collectively hold about 72% stake in Symbiotec. MOPE, via its India Excellence Fund-III, owns 29%, and InvAscent, through Rosewood Investments, holds 42.67% as of March 31, 2024. The remaining 28% stake is held by the promoter Satwani family. The planned public issue underscores rising interest in speciality pharma firms. In 2023, another API-focused firm, Concord Biotech , raised ₹1,551 crore through an IPO. Backed by late investor Rakesh Jhunjhunwala, Concord currently has a market capitalisation of ₹18,528 crore, with its stock closing at ₹1,780.75 apiece on the BSE on Tuesday-well above its issue price of ₹741. Founded in 2002 by Anil Satwani, Symbiotec specialises in research, development, and manufacturing of corticosteroids and hormone APIs at facilities in Rau and Pithampur SEZ, Madhya Pradesh. The company is one of the largest independent firms in its category globally and has built a robust backward-integrated platform for steroid and hormone manufacturing. Live Events Symbiotec has also ventured into formulations, currently developing a portfolio of injectable products through its unit, Knovea Pharmaceuticals, which is setting up a dedicated factory in Madhya Pradesh to cater to regulated markets. Another group unit, Symbiotec Zenfold is building a fermentation facility for green nutraceuticals and pharmaceutical precursors. In FY25, Symbiotec reported a revenue of ₹800 crore and EBITDA of ₹250 crore, people said. During FY24, steroid APIs contributed 68% of revenue with hormones comprising the remainder. The company exports to more than 30 countries, including the US, Europe, and key Asian markets.
Time of India
an hour ago
- Time of India
Micron's Sanand chip plant enters crucial cleanroom validation stage
Live Events ETtech The first phase of Micron 's ambitious plant at Sanand, Gujarat , has progressed towards cleanroom validation , people in the know told ET. A cleanroom is a highly controlled environment designed to minimise the presence of airborne particles like dust, bacteria and chemical vapours that could compromise sensitive processes or products."What Micron is doing is that they are trying to make Phase 1 of the main facility operational by the second half of this year," one of the people said. "The certification is being done in order to enable that timeline."With a planned cleanroom space of half a million square feet in its first phase, this will be an assembly, testing, marking and packaging (ATMP) unit for US-based memory chip maker plans to invest up to $825 million over the two phases of the project. The combined investment by Micron and government entities will be up to $2.75 a June 22, 2023 news release, Micron had said that the Phase 1 would start to become operational in late 2024 and that the company would ramp capacity gradually in line with global demand trends. Micron had said at the time that it expects Phase 2, which would include construction of a facility similar in scale to Phase 1, to start towards the second half of the initial timelines have seen some adjustments, with construction contractor Tata Projects saying that the handover of the facility is now expected to be handed over by December 2025, the commencement of cleanroom validation is seen as a significant step towards the plant becoming sent to Micron remained unanswered as of press time Tuesday."Cleanroom validation is a cornerstone in semiconductor manufacturing because it ensures the production environment meets the extremely stringent conditions required for the fabrication of delicate microelectronic devices," said Krishna Moorthy , a semiconductor industry technology veteran and former CEO of the India Electronics and Semiconductor Association . "In this industry, even a single contaminant — whether a microscopic dust particle or a stray chemical — can disrupt processes like photolithography, etching and deposition, leading to defects and costly yield losses," he told systematically certifies that environmental parameters (particle counts, temperature, humidity, airflow and static control among others) adhere to strict specifications, he beyond the immediate risk of contamination, cleanroom validation plays a pivotal role in overall process control and quality assurance."Regular and rigorous validation helps identify any deviations in the cleanroom's performance over time, facilitating early intervention before production is compromised," Moorthy said. "This ongoing process not only mitigates risks associated with equipment downtime or process deviations but also assists in regulatory compliance and customer assurance. Moreover, as semiconductor devices continue to shrink in size, the margin for error becomes ever smaller."After a cleanroom is validated in a semiconductor manufacturing facility, it essentially transitions from the commissioning and qualification phase into full-fledged production."The post-cleanroom validation phase for an assembly, test, marking, and packaging facility shares some common fundamentals with those in front-end wafer fabrication—but there are notable differences tailored to the specific back-end operations," Moorthy said. "In an ATMP facility, while the cleanroom environment is crucial, the focus shifts more toward ensuring that the subsequent processes—such as chip bonding (via wire or flip-chip techniques), electrical testing, thermal cycling, reliability checks, and final encapsulation—are faithfully executed."The tools and machinery for assembly, test, marking and packaging are installed, calibrated and integrated into the validated cleanroom. However, unlike the front-end processes, ATMP operations emphasise functional and reliability attributes of the packaged device. Here, process qualification includes not just verifying that the controlled environment is maintained, but also that all assembly and testing techniques meet stringent product and reliability criteria."After cleanroom validation, the ATMP facility incorporates additional layers of process validation," Moorthy said. "This might include burn-in testing, end-use simulation and comprehensive inspection protocols to certify that the completed packages consistently reach the design specifications required for market or application standards."
