Liberty Media to Sell $825M in F1 Shares to Fund MotoGP Acquisition by End of 2024

Liberty Media plans to sell $825 million worth of Formula 1 shares before acquiring MotoGP. The MotoGP acquisition is anticipated to be finalized by the end of 2024.

Liberty Media revealed its intention to sell $825 million worth of Formula 1 shares to help finance its upcoming purchase of MotoGP.

In April, Liberty consented to purchase an 86% stake in Dorna Sports S.L., the entity holding commercial rights to MotoGP, with the sport being valued at $4.2 billion.

"The deal is anticipated to be finalized by the end of 2024, pending the necessary approvals from competition and foreign investment regulatory bodies in multiple regions," stated Greg Maffei, President and CEO of Liberty Media, at the time.

Liberty revealed the sale of more than 10 million F1 shares this week and affirmed that the deadline to finalize the MotoGP purchase by the end of the year is still on track.

Liberty Media plans to utilize the net proceeds from this share sale to (i) cover the additional cash required for the MotoGP acquisition, anticipated to be finalized by the end of 2024, and (ii) for general corporate needs, such as paying off debt.

Shares of the 'Series C Liberty Formula One Common Stock,' totaling 10,650,000, are being offered to the public at a price of $77.50 per share. Additionally, Liberty Media has provided an option to buy up to 1,597,500 more shares.

According to the statement, Liberty Media anticipates that the offering will generate around $825.375 million in gross proceeds.

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