Liberty Media anticipates regulatory clearance for its MotoGP acquisition as discussions progress with the European Commission, targeting year-end approval.
Liberty Media CEO Greg Maffei, owner of Formula 1, is confident that the group’s acquisition of MotoGP will proceed.
Liberty Media’s intent to also acquire the two-wheeled equivalent of F1 was announced last April, pending financing and regulatory approval.
Maffei now believes the deal will be finalized by year-end.
“We have secured all necessary funding for our MotoGP acquisition project,” he stated during the presentation of Formula 1’s Q3 financial results.
Liberty Media aims to acquire 86 percent of the sport in a deal valued at over 4 billion euros.
However, the main hurdle will be European Commission approval, as F1’s former owner, CVC, was prohibited in 2006 from holding both Formula 1 and MotoGP.
“We are making progress with the European Commission,” Maffei said, “which remains the only outstanding jurisdictional regulatory hurdle. We continue to hope for a resolution by year-end.”
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Liberty Media Nears Approval in MotoGP Acquisition Bid Liberty Media Nears Approval in MotoGP Acquisition Bid
