Liberty Media has revealed plans to sell F1 shares worth $825 million (€742m) in order to ‘partially fund’ its planned acquisition of MotoGP. In April 2024, Liberty agreed to acquire 86 per cent of MotoGP commercial rights holder Dorna Sports, valuing the sport at $4.2 billion.

”The acquisition is expected to be completed by year-end 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities in various jurisdictions,” advised Greg Maffei, Liberty Media President and CEO, at the time.

“Liberty Media expects to use the net proceeds from the sale of shares in this offering (i) to fund the increase in total cash consideration for the [MotoGP] Acquisition, which is expected to close by year-end 2024 and (ii) for general corporate purposes, including the repayment of debt,” explained the company when announcing the share sale.

The 10,650,000 ‘Series C Liberty Formula One Common Stock’ shares have a public offering price of $77.50 each.

According to Liberty Media, the offering is expected to result in approximately $825,375,000 in gross proceeds to the company.

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Categories: Articles, Business, Funding, M&A

Tags: Dorna Sports, f1, Liberty Media, MotoGP