Dorna Sports has agreed a new long-term deal with the International Motorcycling Federtion (FIM) to continue promoting the MotoGP series until 2060.
Contract:
- Dorna to continue handle all commercial matters relating to MotoGP
- Spanish agency will also keep promoting the World Superbike Championship, MotoE, JuniorGP World Championship and the Women’s Circuit Racing World Championship
Context:
Dorna has promoted the MotoGP series since 1992, and this latest extension with the FIM is set to take its partnership to beyond 60 years.
The extension comes as Formula One owner Liberty Media works on completing the purchase of MotoGP. The deal, which will see the US media company acquire about 86 per cent of Dorna, is worth an enterprise value of €4.2 billion (US$4.67 billion). Dorna will remain an independently run company.
Comment:
Jorge Viegas, president of the FIM, said: “This is an incredibly important moment and one that provides long term clarity and security regarding the pinnacle of motorcycle sport. This is not only important for all those directly involved in MotoGP, but also for the wider motorcycle racing community that reaps the benefits from the global status, value and presence of this leading series.
“The ongoing and ever closer collaboration between the FIM, Dorna Sports and the other key stakeholders is something that has been built over many years, the trust and co-operation that now exists alongside this long-term agreement offer great foundations for the future development of MotoGP plus all the related championships.”
“We’re very proud to announce this agreement with the FIM,” added Carmelo Ezpeleta, chief executive of Dorna Sports. “It is fantastic news for the sport, and our fans around the world, that this partnership is guaranteed to continue. We have built something truly special and will continue to grow the sport even further, working together.
“Being able to come to such a long-term agreement adds incredible value for MotoGP. In the sports and entertainment landscape of today, the level of consensus we enjoy in MotoGP is something we’re privileged to be part of, and it lays fantastic foundations for our sport to continue its trajectory of growth. We want to thank the FIM for their support and we look forward to making MotoGP even bigger and better than ever as we continue our partnership.”
Coming next:
Liberty Media’s takeover of Dorna is expected to close at the end of this year. Last month, the US media company confirmed it was selling 10.65 million shares to fund its acquisition, with the sale to generate just over US$825 million.
Go Deeper:
- How WorldWCR plans to solve MotoGP’s lack of female representation
- Liberty’s €4.2bn MotoGP takeover: Answering the key questions and what it means for F1
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