Key Takeaways
- Formula One (F1) owner Liberty Media is expanding its investment in motorsports by purchasing Dorna Sports, the owner of the rights to the MotoGP World Championship.
- The entertainment and media company said it is paying $4.5 billion for the motorcycle racing franchise from private equity firm Bridgepoint and the Canada Pension Plan Investment Board.
- Warren Buffett’s Berkshire Hathaway holds a stake in Liberty Media, with its latest 13F filing showing it held over 7 million of Liberty Media’s Series C Formula One shares as of the end of 2023.
Formula One (F1) owner Liberty Media (FWONK) is expanding its reach into motorsports by purchasing Dorna Sports, the owner of the rights to the MotoGP World Championship.
Liberty said it will pay 4.2 billion euros ($4.5 billion) to acquire Dorna Sports from private equity firm Bridgepoint and the Canada Pension Plan Investment Board. The deal gives Liberty an 86% stake in MotoGP, while MotoGP management will retain 14% control.
MotoGP has been racing since 1949, and will host 21 races across 17 countries this year. Liberty CEO Greg Maffei said that MotoGP’s business “has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
Warren Buffett‘s Berkshire Hathaway (BRK.A) holds a stake in Liberty Media, with its latest 13F filing showing it held over 7 million of Liberty Media’s Series C Formula One shares as of the end of 2023.
Liberty Media’s Series C Formula One shares were 0.9% lower at $65 as of noon ET Monday. They have gained about 4.3% so far in 2024.
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