In April, Liberty Media announced its plan to acquire an 86 per cent stake in Dorna Sports, the owners of MotoGP, for $4.2 billion. Although not all shares are being bought, the remaining shares will stay with MotoGP management.
Since taking over Formula One, Liberty Media has achieved historic growth for the franchise. Forbes reported a 114 per cent increase in Formula One’s revenue in January 2023. Additionally, Forbes stated that less than 40 per cent of the current viewers were present before Liberty Media’s takeover. A clear winner for the quickest sport on Earth?
Another notable move by Liberty Media was the marketing success of ‘Drive to Survive’, which popularised Formula One. Combined with the thrilling 2021 season, featuring the rivalry of the 21st century, the sport was back as a promising enterprise.
Under Liberty’s management, Formula One has seen expanded interest and a growing fanbase, particularly in the United States. The company now hopes to replicate this growth with MotoGP, using its experience to enhance the sport’s profile and reach.
Formula One has experienced increased appeal, value, and revenue. Liberty Media, with its expertise in marketing and expanding motorsport franchises, aims to achieve similar success with MotoGP.
Additionally, seven-time Formula One world champion Lewis Hamilton has shown interest in buying a MotoGP team. How will all this play out? Stay tuned to Motoring World to find out.
