If you've been living under a rock, you may not have heard that Formula 1's parent company, Liberty Media, struck a deal with MotoGP's Dorna to purchase the two-wheeled racing series for a cool $4.5 billion this April. The news broke in April and, you'd likely assume that everything was said and done given how both groups, riders, drivers, and personalities have been discussing it ever since.
You'd, however, be wrong, as the deal isn't yet done.
While Dorna and Liberty Media have finalized the price of the controlling purchase, Liberty Media didn't have the cash on hand to fund the buyout. That's only recently come with securing new loans, leveraging old debts, spinning off Sirius XM, and issuing new common stock to the tune of nearly $1 billion. That's all well and good, but Liberty Media still has to clear one last hurdle.
