Greg Maffei, CEO of Formula 1’s owner Liberty Media, is optimistic that the group’s acquisition of MotoGP will soon be finalized.
Greg Maffei, CEO of Formula 1’s owner Liberty Media, is optimistic that the group’s acquisition of MotoGP will soon be finalized.
Liberty announced plans to acquire MotoGP in April, with the deal dependent on securing financing and regulatory approval. Maffei now believes the deal will close by the end of 2024.
“We have secured all the necessary financing for our MotoGP acquisition project,” he told Ouest-France, referring to the 86 percent purchase valued at over 4 billion euros.
Despite securing financing, Liberty Media is still awaiting European Commission approval. This regulatory review is significant because Formula 1’s previous owner, CVC, was restricted from owning both F1 and MotoGP in 2006.
“We are making progress with the European Commission,” Maffei said, adding that it is “the only remaining jurisdictional regulatory hurdle. We continue to hope for closure by the end of the year.”
