European Watchdog Clears Liberty Media’s $5B MotoGP Buy

Liberty Media can move forward with its multibillion-dollar acquisition of MotoGP after the European Commission cleared the deal unconditionally, following an in-depth investigation that found the transaction will not harm competition with regard to broadcasting rights for sports content.

The agreement, first announced last April, will see Liberty Media Corporation buy Dorna Sports SL, which is the exclusive commercial-rights holder for the MotoGP World Championship. Under the agreement—which carries an enterprise value of 4.3 billion euros ($4.96 billion)—Liberty Media is buying 86% of MotoGP, with management of the motorcycle racing organization retaining roughly 14% of its equity. The purchase price will be paid in cash, including proceeds from a $1 billion loan, according to a Monday statement from Liberty Media.

The acquisition bolsters Colorado-based Liberty’s sports portfolio, and particularly its assets in the realm of racing. Liberty also owns F1 parent Formula One Group, which it bought from private-equity firm CVC Capital in 2016 at an $8 billion enterprise value.

The European Commission—Europe’s antitrust watchdog—probed the deal for potential anti-competitive effects, including because of the F1 ties. It opened a Phase II investigation of the transaction in December. The regulator raised concerns about whether the deal would “reduce competition in the licensing of broadcasting rights for sports content,” but it ultimately found that MotoGP and F1 are not direct competitors in the sale of sports-media rights, and the transaction does not significantly reduce competition in any national market. 

The European Commission approval represents the final hurdle to closing the agreement. The deal received regulatory scrutiny in Europe but not the U.S. because Dorna is based in Spain, and most of MotoGP’s races and operations are based in Europe. 

Liberty expects to complete the deal imminently, with a closing no later than July 3, it said in a Monday statement.

Longtime Dorna CEO Carmelo Ezpeleta will continue to lead MotoGP. He said in a statement Monday that the approval marks “an important milestone confirming the even brighter future that lies ahead for MotoGP.”

MotoGP has seen strong recent growth in its audience and social media following, according to data provided by a representative for the league. Since 2023, its social media following has increased by 44% across Facebook, X/Twitter, Instagram, TikTok, and YouTube; the average audience for televised races in the U.S. is up by 53% so far this season compared to last year; and ticket sales for the Americas GP—a race in Texas that was held in late March—were up 41% this year. 

MotoGP hosted more than 21 motorcycle races across 17 countries last season. It has already held 9 races this season, with 22 total scheduled for 2025. The next event will be held June 27–29 in the Netherlands. The motorcycle races regularly see riders exceeding 220 miles per hour.

Upon closing, MotoGP will be folded into Liberty Media’s Formula One Group tracking stock, including Quint, which provides hospitality services for sports and entertainment events and was purchased by Liberty Media last year.

In addition to MotoGP, F1, and Quint, Liberty Media’s portfolio includes Live Nation and satellite radio company SiriusXM. It previously owned MLB’s Atlanta Braves before spinning the team off into its own independent, publicly traded entity in 2023.