Friday, April 19, 2024

The owners of Formula 1 have bought another motorsport

Liberty Media, which in 2016 bought the commercial rights to Formula 1 for 29 billion Danish kroner, has thrown money at MotoGP.

Liberty Media has bought the commercial rights to the most famous motorcycle class, MotoGP.

That's what Racer.com writes.

Liberty Media is probably best known for sitting on the commercial rights to Formula 1. The American company secured them in 2016.

Back then, the British businessman Bernie Ecclestone was bought out of the entire Formula 1 circus for a staggering 29 billion Danish kroner.

READ ALSO: Angry neighbors give up suing famous racetrack

Liberty Media had to give up roughly the same, when adjusted for inflation, for the rights to MotoGP. It has therefore been far from free to get close to two-wheeled motorsport.

It is reported that the Americans have given 4.5 billion dollars, which corresponds to 31.2 billion kroner, in exchange for the rights to MotoGP.

For the deal, which according to Racer.com will finally fall into place at the end of this year, among others, a Canadian pension company sat on the rights. Yes, a pension company.

– We are thrilled to be able to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP.

– MotoGP is a global enterprise with a loyal and enthusiastic fan base as well as captivating racing lobs and a very lucrative profile, says Liberty Media's managing director Greg Maffei on the news of the deal.

Read more news from and about the world of motorsport right here

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