F1 owner Liberty Media breaks silence on EU investigation on MotoGP deal

Liberty Media officially responded to the probe launched by the European Union on the agency's recent goals to acquire rights to MotoGP.

F1 owner Liberty Media breaks silence on EU investigation on MotoGP deal

Carmelo Ezpeleta, F1 CEO Stefano Domenicali and MotoGP (via IMAGO).

Formula 1 continues to receive massive improvement in viewership and popularity around the world. Liberty Media‘s persistent efforts to propel the sport’s popularity were of great importance for this feat. The media agency had set out to purchase advertising rights to MotoGP which caught the attention of the European Union as they meddled in the matter.

Liberty Media officially responded to the probe launched by the EU over the company’s acquisition of MotoGP. The deal was set to be estimated over $4 Billion which caused concerns to the European Union. The sport’s previous owner, CVC Media was handling the commercial rights to both sports. The media corporation was forced to sell MotoGP in 2006 after facing regulatory issues.

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The media agency stated that they were confident that the MotoGP acquisition would benefit the two-wheeler category’s business, fans, and viewers. Moreover, Liberty Media declared that the market participants in the deal between the two entities had already recognized the benefits of the acquisition.

We are confident this transaction will benefit MotoGP’s business, fans, viewers, and the broader motorcycle industry. Market participants have widely recognized the benefits of the transaction.

Liberty Media noted, as reported by racingnews365

Liberty Media will enable MotoGP to compete in the ‘highly competitive market’

Handling Formula 1 and MotoGP would be extremely difficult for Liberty Media in the coming years. Regardless, the American giant believed that there was a large audiovisual entertainment market available beyond sports. This said market would enhance MotoGP’s ability to compete with the other categories of sport in the highly competitive market.

F1 and Liberty Media
F1 and Liberty Media, images via IMAGO and Wikipedia

There is a very large and growing market for audiovisual entertainment well beyond sports, and this transaction will enhance MotoGP’s ability to compete in this highly competitive market.

Liberty Media noted

The coming years would be extremely monumental for Formula 1 in terms of gaining traction and popularity. Combining the audiences of MotoGP and the pinnacle of motorsport would greatly benefit both parties. Hence, Liberty Media will finish the probe and aim at moving past the issues and gaining access to both sports.