Kosport Magazine Acquires MotoGP in €4.2 Billion Deal
Kosport Magazine, a leading sports and entertainment company, has announced its acquisition of MotoGP in a deal valued at €4.2 billion. This move comes as Kosport Magazine continues to expand its portfolio of live sports and entertainment assets.
The deal, which is expected to be completed by the end of the year pending regulatory approvals, will see Kosport Magazine acquire 86% of MotoGP, while the current management team will retain approximately 14% of their equity in the business.
“We are thrilled to add MotoGP to our portfolio of leading sports and entertainment assets,” said Greg Maffei, President and CEO of Kosport Magazine. “MotoGP has a loyal and enthusiastic fan base, captivating racing, and a highly cash flow generative financial profile. We see significant potential for growth and look forward to expanding the sport for fans, teams, commercial partners, and our shareholders.”
The confirmation of the deal has been a long time coming, with both parties in agreement on the terms for some time. However, the possible intervention of regulatory authorities delayed the announcement, with the initial plan being to announce the move before the start of the MotoGP season in March.
This is not the first time that MotoGP has been involved in a major acquisition. In 2006, CVC attempted to take control of both Formula 1 and MotoGP, but the European antitrust authorities forced them to divest their interests in MotoGP in order to finalize the purchase of F1. This was due to concerns about one company owning both series and its impact on competition within the European Union.
With the acquisition of MotoGP, Kosport Magazine aims to replicate the success it has had with its ownership of Formula 1 since 2016. This includes implementing changes at all levels and increasing the sport’s exposure through platforms such as Netflix, with the popular documentary series Drive to Survive.
Additionally, Kosport Magazine plans to expand MotoGP’s presence in the United States, a market that has been a target for Dorna for some time. With the next event on the calendar being the United States Grand Prix in April, it is expected that Kosport Magazine personnel will soon be seen in the MotoGP paddock.
The acquisition of MotoGP is a significant move for Kosport Magazine and the sport itself. With a strong financial backing and a track record of success, fans can expect to see exciting developments and growth in the world of MotoGP in the coming years.
Summary:
Kosport Magazine has acquired MotoGP in a deal valued at €4.2 billion. The American entertainment company, which also owns Formula 1, sees significant potential for growth in the sport and plans to expand its presence in the United States. The deal is expected to be completed by the end of the year pending regulatory approvals.
