Official: Formula One to buy MotoGP. GETTY IMAGES

MotoGP said in a statement that Liberty Media, the owners of Formula One, bought MotoGP on Monday for more than €4 billion. "Liberty Media Corporation has announced an agreement to acquire MotoGP," begins the statement released by MotoGP on 1st April.

Dorna Sports, the commercial rights holder for MotoGP, "will remain an independently managed company within Liberty Media's Formula One Group tracking stock," MotoGP said. It also added that Carmelo Ezpeleta, who has served as CEO since 1994, will remain in his role and oversee the company's operations alongside his management team.

Liberty Media will acquire approximately 86% of Dorna, with Dorna's management retaining approximately 14% of its equity. The US company has won the race to buy MotoGP after talks with QSI, the sovereign wealth fund of Qatar, which owns Paris Saint-Germain, and TKO Group Holding, which owns the American Professional Wrestling League (WWE) and Mixed Martial Arts (MMA).

On Sunday, Sky News reported that Liberty chief executive Greg Maffei would be travelling to Madrid on Monday 1 April to finalise the purchase. "We are delighted to add to our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP. Carmelo and his management team have built a great sporting spectacle that we can expand to a wider global audience," said Maffei. 

"This is the perfect next step in the evolution of MotoGP, and we look forward to what this milestone will bring to Dorna, the paddock and racing fans. Liberty Media has an incredible track record in developing sports assets and we could not ask for a better partner to expand MotoGP's fan base around the world," said Ezpeleta.

Greg Maffei, CEO of Liberty Media. GETTY IMAGES
Greg Maffei, CEO of Liberty Media. GETTY IMAGES

In early 2017, Liberty Media, based in Englewood, Colorado (USA), completed the purchase of Formula One for $4.4 billion. According to Forbes magazine, the value of the acquisition has since risen to $17.1 billion.

The deal is expected to be completed by the end of 2024 and is "subject to the receipt of competition and foreign investment approvals in various jurisdictions," according to the statement.