Liberty Media Corp., the American company that owns Formula 1, is expanding its global racing portfolio with the acquisition of the MotoGP motorcycle racing series by the end of the year, as announced by MotoGP officials on Monday.
Liberty Media will be purchasing approximately 86% of Spain-based Dorna Sports, which holds the commercial and television rights for MotoGP, for a sum of about $4.5 billion (4.2 billion euros). Dorna Sports has confirmed that it will continue to operate as an independent entity under the leadership of Carmelo Ezpeleta, who has been the series' chief executive since 1994.
