Liberty Media’s MotoGP acquisition faces a key EU probe as former F1 CEO Chase Carey re-enters the spotlight for possible negotiations.
A major European Union (EU) investigation into Liberty Media’s proposed acquisition of MotoGP, the owner of Formula 1, appears imminent.
A month ago, amid speculation that the EU might not permit the American company to own both F1 and MotoGP, Liberty’s outgoing CEO Greg Maffei expressed confidence the deal would go through.
“We are progressing with the European Commission, which is the only remaining regulatory jurisdictional hurdle. We continue to anticipate closing by the end of the year.”
However, Bloomberg now reports that the European Union is indeed preparing an in-depth investigation, as confirmed by two anonymous sources.
The EU’s deadline to decide on launching the investigation is next Thursday.
When asked to comment on the latest developments, a Liberty Media spokesperson stated the company continues to “work constructively” with regulators.
They also expressed confidence that the EU would “understand the dynamic nature of the market.”
The EU declined to comment.
Notably, just days ago, Liberty Media announced the return of former F1 CEO Chase Carey to its board of directors. Carey was succeeded at the helm of F1 by Stefano Domenicali in 2022.
Carey is seen as an asset for potential discussions with the EU, having previously overseen Liberty’s acquisition of F1 from CVC and Bernie Ecclestone.
“Chase has been an outstanding partner to Liberty for many years, from our investment in DirecTV in 2008 to Liberty’s acquisition of Formula 1 in 2017, where his leadership as CEO was instrumental to its success,” explained John Malone, Liberty’s chairman.
“Chase’s knowledge and expertise across media, entertainment, sports, business, and beyond will be invaluable to the board as our businesses enter their next chapters of growth and value creation.”
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Liberty Faces EU Hurdle Over MotoGP Acquisition Bid Liberty Faces EU Hurdle Over MotoGP Acquisition Bid
