Formula One owners strike £3.6bn deal for ‘global’ project amid Tottenham takeover deal
Tottenham Hotspur news as Liberty Media continue to invest in the sporting world with a huge move in MotoGP
In a £3.6 billion deal, MotoGP was acquired by Formula One owners Liberty Media, who were also connected to investments in Tottenham Hotspur.
The company’s CEO made a hint in the summer that he might be considering an investment in a Premier League team. After acquiring Bernie Ecclestone in 2017 for a reported £3.3 billion, the American mass media company has had a remarkable ascent in Formula One.
Although he did acknowledge that the ideal arrangement had not materialised, CEO Gregg Maffei stated that the company had considered all of the potential options in the Premier League.
“I would dispute buying on the cheap,” he said. “We like to buy for a fair price then hopefully build value.”
He added: “You mention the Premier League teams; there isn’t an asset we haven’t looked at. That doesn’t mean we’ve been ready to buy them all but we look at everything because we do think sports in general is attractive, we do think there are upsides and do think those things that management teams have taught up can help apply perhaps in other sports situations.”
The Spanish firm Dorna Sports has since sold the MotoGP motorcycle series to the media company. They plan to complete the purchase before the end of the year, acquiring around 86% of the company.
“MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile,” Maffei claimed.
“The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
After Daniel Levy disclosed that Tottenham is in talks with possible investors, Liberty Media is anticipated to be associated as a possible investor in the team. After Spurs generated a record £549.6 million in income for the 2022–2023 season, Levy made his remarks.
The chairman of Tottenham acknowledges that the team needs to “continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base,” and that “the board and its advisors, Rothschild & Co, are in discussions with prospective investors.”
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