F1 owner Liberty Media finally set to seal deal to take control of MotoGP after European approval
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
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Tesco to set up distribution hub, create 15,000 jobs: K'taka Industries Min
UK-based retail giant Tesco plans to set up a new distribution centre in Karnataka, creating 15,000 additional jobs, Large and Medium Industries Minister M B Patil said on Wednesday. UK engineering major Rolls-Royce is also exploring fresh investments in the state, he said, adding that the government would expedite all necessary processes to facilitate the company's plans, his office said in a release. Patil made the announcement while addressing a reception hosted on Tuesday by the British Deputy High Commission to mark the signing of the IndiaUnited Kingdom Free Trade Agreement (FTA). The pact is projected to boost bilateral trade by about Euro 25 billion annually and help double trade volumes to nearly Euro 90 billion by 2030. The FTA would pave the way for duty-free access for 99 per cent of India's exports to the UK and 90 per cent of UK exports to India. This would mean more affordable products, greater market access for businesses, and a surge in commerce benefiting consumers and industries in both countries, he said. Patil noted that leading British firms such as Rolls-Royce, BAE Systems, Tesco, ARM, HSBC, and Aviva already have a strong presence in Bengaluru and across Karnataka, collectively employing nearly 30,000 people in the state. He said the FTA would enable UK companies to scale up investments in Karnataka and urged them to leverage the state's technology capabilities, infrastructure, and industry-friendly policies. The government will respond proactively to those keen on investing, he assured. According to the minister's office, the event was attended by Harjinder Singh, UK Trade Commissioner; Chandru Iyer, British Deputy High Commissioner; and other dignitaries.
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Kalpataru posts Rs 49 crore loss in Q1 FY26 despite strong pre-sales
Mumbai-based real estate developer Kalpataru reported a widening of losses to Rs 49.43 crore in the first quarter of FY26, compared with Rs 0.69 crore in Q1 FY25. Revenue from operations stood at Rs 443.2 crore, down 16.45 per cent year-on-year (Y-o-Y), while total expenses fell 5.18 per cent Y-o-Y to Rs 512.23 crore. The company follows the project completion method (PCM) for recognising revenue from projects launched after April 2022. Under this method, revenue is recorded only upon receipt of the occupation certificate (OC), whereas expenses such as marketing and corporate overheads are booked in the same quarter they are incurred. As of Q1 FY26, the majority of recognised revenue came from projects under PCM. Of its 24 ongoing projects, Kalpataru applies PCM to 13; however, costs associated with these projects are fully charged to the profit and loss account during the reporting period. Pre-sales rose 83 per cent Y-o-Y to Rs 1,249 crore, while collections increased 37 per cent YoY to Rs 1,147 crore. However, the area sold fell 9 per cent Y-o-Y to 0.56 million square feet. Average sales realisation during the quarter surged 101 per cent Y-o-Y to Rs 22,476 per square foot. The company has guided pre-sales of Rs 7,000 crore for FY26, up from Rs 4,531 crore in FY25. It is targeting collections of Rs 5,700 crore, compared with Rs 3,659 crore in the previous financial year. Debt reduction focus Net debt as of June 30, 2025, stood at Rs 7,939 crore. The net debt-to-equity ratio improved to 2.0x from 3.8x as of March 31, 2025. Kalpataru aims to reduce its debt to Rs 7,300 crore by the end of FY26. 'The company has utilised Rs 1,192.5 crore from IPO proceeds towards debt repayment, in line with the objects of the issue, and remains committed to further strengthening the balance sheet through continued debt reduction efforts,' said Parag Munot, Managing Director, Kalpataru. On a sequential basis, revenue declined 26 per cent. The company had posted a profit of Rs 14.05 crore in Q4 FY25, compared with a loss in the current quarter. Kalpataru shares closed at Rs 406.30 on the BSE on Tuesday.
Deccan Herald
19 minutes ago
- Deccan Herald
Optiemus partners with US-based Corning to produce tempered glass in India
New Delhi: Optiemus Infracom in partnership with US-based Corning Inc on Wednesday announced that it will manufacture tempered glass screen protectors for smartphones in India. Noida-based firm claimed that it is the first company in India to locally produce advanced-grade screen protectors featuring Corning glass technology.'We are committed to establishing India as a global hub for high-value mobile accessories," said Ashok Kumar Gupta, Chairman, Optiemus Infracom company will produce premium tempered glass screen protectors under the brand 'RhinoTech'. It targets around Rs 2,000 crore revenue from the tempered glass business by March 2027. Majority of the tempered glass used for protecting smartphone screens in India is imported from informed that RhinoTech screen protectors will be manufactured at Optiemus' facility in Noida, Uttar Pradesh. 'Our state-of-the-art manufacturing plant enables RhinoTech to reliably meet the growing demand of Indian consumers while maintaining consistent quality and widespread availability across the nation,' Optiemus said in a screen protectors will initially be available for the premium smartphone category. The company plans to expand its offerings to cater to other categories, including the economy smartphone category, in the coming RhinoTech products will be available in the Indian market starting end of September 2025 through the official RhinoTech website and authorised dealers/retail chains in select cities.'We are excited to work with Optiemus to help offer Indian consumers the choice of a screen protector that is marked as Engineered by Corning. We believe that this development will support the country's growing need for providing screen protectors for the mobile consumer electronics industry,' said Sudhir Pillai, Managing Director, Corning tempered glass screen protectors market is valued at around Rs 20,000 crore. Over 90% of it is met through low-cost imports, leading to inconsistent quality and an unorganised address this, the government last month introduced the Indian standard for 'Chemically Tempered Glass Screen Protectors' via the Bureau of Indian Standards (BIS) on 28 July 2025. Gupta said all RhinoTech screen protectors will be as per the BIS norms.
