Formula One’s US-based owner Liberty Media has announced a takeover of MotoGP’s parent company Dorna, MotoGP said in a statement on Monday.

“Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity... the transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion ($4.53 billion) and an equity value of €3.5 billion,” MotoGP added.

Also Read:&nbsp;<a href="https://www.wionews.com/sports/its-not-in-our-hands-guardiola-on-premier-league-title-race-after-arsenal-draw-706523">'It’s not in our hands': Guardiola on Premier League title race after Arsenal draw</a>

“We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media president and CEO Greg Maffei said.

“We are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” said Carmelo Ezpeleta, CEO of Dorna.

The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities, MotoGP added.

The takeover could attract regulatory scrutiny. CVC Capital Partners, who sold Formula One to Liberty in 2017, were cleared by the European Commission to buy F1 in 2006 on condition they sold Dorna.

Formula One’s US-based owner Liberty Media has announced a takeover of MotoGP’s parent company Dorna, MotoGP said in a statement on Monday. “Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity.

Formula One’s US-based owner Liberty Media has announced a takeover of MotoGP’s parent company Dorna, MotoGP said in a statement on Monday. “Liberty Media will acquire approximately 86% of Dorna, with Dorna management retaining approximately 14% of their equity... the transaction reflects an enterprise value for Dorna/MotoGP of €4.2 billion ($4.53 billion) and an equity value of €3.5 billion,” MotoGP added. Also Read: 'It’s not in our hands': Guardiola on Premier League title race after Arsenal draw “We are thrilled to expand our portfolio of leading live sports and entertainment assets with the acquisition of MotoGP,” Liberty Media president and CEO Greg Maffei said. “We are excited for what this milestone brings to Dorna, the MotoGP paddock and racing fans,” said Carmelo Ezpeleta, CEO of Dorna. The acquisition is expected to be completed by the end of the year subject to clearances and approvals by law authorities, MotoGP added. The takeover could attract regulatory scrutiny. CVC Capital Partners, who sold Formula One to Liberty in 2017, were cleared by the European Commission to buy F1 in 2006 on condition they sold Dorna.

Racing: Formula One owner Liberty Media acquires MotoGP

Formula One owners Liberty Media have under-estimated the task of running the sport and must be firm in setting out a vision for the future, according to Red Bull team boss Christian Horner.

Speaking to reporters before the 2019 cars break cover next week, the Briton was also scathing of technical changes he said had been expensive to implement but would change little on track.

The agreements between teams, the rights holders and governing body expire at the end of 2020 and US-based Liberty, who took control two years ago, want closer racing and a more level playing field.

That includes a budget cap and distributing revenues more equally, as well as technical changes so that cars can follow at close quarters and overtake more easily.

The detail has yet to be defined, however, with resistance from wealthy teams who have historically enjoyed special privileges.

"I think they probably thought there was some very low hanging fruit there and I think it's proved an awful lot harder than they perhaps thought," Horner said of Liberty's initial approach to the sport.

"You can window dress and promote a movie as much as you like, but if the movie has not got the substance and isn't an exciting movie, people won't watch it."

Horner said Liberty had taken positive steps in areas such as esports, digital platforms and promotion, but they needed to set out a clear post-2020 blueprint.

"As the owner of the sport they need to take a position of 'this is what we want Formula One to be, here's the set of regulations and here's the financials', and go with it," declared the Briton.

Promoters representing a majority of the tracks on the calendar last week voiced concern about Liberty's handling of the sport.

Horner said former commercial supremo Bernie Ecclestone, who ran the sport for decades with an iron fist until 2017, would have had a firmer response to that.

"The problem is the way that Liberty are operating, trying to operate in a democratic way," he said.

"Bernie ran a really tight and hardship. A dictatorship. If you didn't like it, than you wouldn’t have a race the following year."

Formula One cars will have wider and simpler front wings this season, but Horner was sceptical about the changes improving racing.

"They've cherry-picked something in isolation of a future concept for 2021 and rushed it through onto the current car. There's no silver bullet," he said.

"It has to be everything working in harmony with everything else. Just taking the front wing and saying that will make racing better, it's quite a naive and ultimately expensive approach."

Red Bull's motorsport consultant Helmut Marko has put the cost of developing the aerodynamic changes at an extra 15 million euros ($17.07 million) for the team.

Formula One owners Liberty Media have under-estimated the task of running the sport and must be firm in setting out a vision for the future, according to Red Bull team boss Christian Horner.

Formula One owners Liberty Media have under-estimated the task of running the sport and must be firm in setting out a vision for the future, according to Red Bull team boss Christian Horner. Speaking to reporters before the 2019 cars break cover next week, the Briton was also scathing of technical changes he said had been expensive to implement but would change little on track. The agreements between teams, the rights holders and governing body expire at the end of 2020 and US-based Liberty, who took control two years ago, want closer racing and a more level playing field. That includes a budget cap and distributing revenues more equally, as well as technical changes so that cars can follow at close quarters and overtake more easily. The detail has yet to be defined, however, with resistance from wealthy teams who have historically enjoyed special privileges. "I think they probably thought there was some very low hanging fruit there and I think it's proved an awful lot harder than they perhaps thought," Horner said of Liberty's initial approach to the sport. "You can window dress and promote a movie as much as you like, but if the movie has not got the substance and isn't an exciting movie, people won't watch it." Horner said Liberty had taken positive steps in areas such as esports, digital platforms and promotion, but they needed to set out a clear post-2020 blueprint. "As the owner of the sport they need to take a position of 'this is what we want Formula One to be, here's the set of regulations and here's the financials', and go with it," declared the Briton. Promoters representing a majority of the tracks on the calendar last week voiced concern about Liberty's handling of the sport. Horner said former commercial supremo Bernie Ecclestone, who ran the sport for decades with an iron fist until 2017, would have had a firmer response to that. "The problem is the way that Liberty are operating, trying to operate in a democratic way," he said. "Bernie ran a really tight and hardship. A dictatorship. If you didn't like it, than you wouldn’t have a race the following year." Formula One cars will have wider and simpler front wings this season, but Horner was sceptical about the changes improving racing. "They've cherry-picked something in isolation of a future concept for 2021 and rushed it through onto the current car. There's no silver bullet," he said. "It has to be everything working in harmony with everything else. Just taking the front wing and saying that will make racing better, it's quite a naive and ultimately expensive approach." Red Bull's motorsport consultant Helmut Marko has put the cost of developing the aerodynamic changes at an extra 15 million euros ($17.07 million) for the team.

Liberty have under-estimated challenge of F1, says Red Bull boss Horner

The long-standing practice of female models in Formula 1 would be replaced with &quot;grid kids,&quot; Formula One announced Monday.

Female models used to be featured before the start of every grand prix holding drivers&#39; numbers but&nbsp;the practice had been criticised.

Owner of Formula one, Liberty Media, also denounced the practice, calling it at odds with modern-day societal norms.

The sport&#39;s owners said in a statement that the new arrangement, in partnership with the governing FIA, would &quot;make the pre-race ceremony more relevant and interesting for fans, especially the younger ones&quot;.

The &quot;grid kids scheme&quot; would begin with the season&#39;s opening F1&nbsp;race in Australia on March 25.

F1 said authorities would select kids from the junior motor racing categories. The selections would be based on merit or lottery.

Formula One said the new arrangement would 'make the pre-race ceremony more relevant and interesting for fans, especially the younger ones'

The long-standing practice of female models in Formula 1 would be replaced with "grid kids," Formula One announced Monday. Female models used to be featured before the start of every grand prix holding drivers' numbers but the practice had been criticised. Owner of Formula one, Liberty Media, also denounced the practice, calling it at odds with modern-day societal norms. The sport's owners said in a statement that the new arrangement, in partnership with the governing FIA, would "make the pre-race ceremony more relevant and interesting for fans, especially the younger ones". The "grid kids scheme" would begin with the season's opening F1 race in Australia on March 25. F1 said authorities would select kids from the junior motor racing categories. The selections would be based on merit or lottery.

After it drops 'grid girls', F1 says it will use 'grid kids'

liberty-media

Liberty Media, News on Liberty Media, stories on Liberty Media, articles on Liberty Media, Liberty Media stories at Wion, Liberty Media news, Liberty Media latest news

liberty media

Racing: Formula One owner Liberty Media acquires MotoGP

Liberty have under-estimated challenge of F1, says Red Bull boss Horner

After it drops 'grid girls', F1 says it will use 'grid kids'