Formula One owners strike £3.6bn deal for project amid Tottenham takeover deal
Liberty Media, owners of Formula One, have made a significant move in the sporting world by acquiring MotoGP in a deal worth £3.6 billion.
While previously linked with investing in Tottenham Hotspur, the American-based mass media company has now shifted its focus to the motorcycle racing series.
Having taken over Formula One from Bernie Ecclestone in 2017 for £3.3 billion, Liberty Media’s CEO hinted at potential investment in a Premier League club earlier this year.
He emphasized the company’s strategy of acquiring assets at fair prices to build long-term value.
While exploring various investment opportunities, including those in the Premier League, Liberty Media has finalized the purchase of MotoGP from Spanish company Dorna Sports, acquiring approximately 86% ownership. The completion of the deal is anticipated by the year’s end.
Expressing optimism about the future of MotoGP, Liberty Media aims to enhance the sport for fans, teams, commercial partners, and shareholders, emphasizing significant growth potential within the business.
Amidst speculation surrounding potential investors, Tottenham chairman Daniel Levy confirmed ongoing discussions with prospective investors.
With the club aiming to bolster its equity base for team investments and future projects, Levy’s comments coincide with Spurs’ record revenue of £549.6 million for the 2022/23 season.
As talks progress with potential investors, Spurs, under Levy’s leadership, seek to ensure sustainable growth and continued competitiveness in the sporting landscape.
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