FORMULA One owner Liberty Media will take over the motorcycle racing league MotoGP as part of a €3.5bn (£3bn) deal to buy its parent company Dorna.

Experts said the deal, which was confirmed yesterday, could see MotoGP get the Formula One treatment, which has seen its market cap skyrocket since it was purchased for £6.3bn by Liberty in 2016.

The deal will see Dorna Sports remain an independently run company but Liberty Media will acquire an 86 per cent stake in the firm, with Dorna management retaining around 14 per cent of the business.

The deal represents a big return for the London-based investment group Bridgepoint, which has been an investor in MotoGP since 2006.

The Canada Pension Plan Investment Board will also sell off its share of the business in the deal.

"We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP," Greg Maffei (pictured), president and chief executive of Liberty, said.

Carmelo Ezpeleta, chief executive of Dorna, said the transaction was a "testament to the value of the sport today and its growth potential."

"Liberty Media 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 added.

Sports finance expert Professor Rob Wilson told City A.M. that the deal "signals the increased exposure of motorsport more generally", and was "really good news for both the sport and the teams that participate within it".

Wilson also added that Liberty has "a great track record in sporting assets, so you would imagine that this will help take MotoGP onto a new level."

The acquisition is expected to be completed by the end of 2024 and is subject to clearance by competition authorities in various jurisdictions.

(c) 2024 City A.M., source Newspaper