Liberty Media Faces Regulatory Hurdle in MotoGP Acquisition Battle
Dec.16 - A major European Union probe into F1 owner Liberty Media's planned acquisition of MotoGP looks set to be launched.
A month ago, amid swirling rumours the EU may not allow the American company to own both F1 and MotoGP, departing Liberty CEO Greg Maffei said he was confident the deal would go through.
"We are making progress with the European Commission," he confirmed, "which is the only remaining jurisdictional regulatory hurdle.
"We continue to hope for closure by the end of the year."
However, Bloomberg is now reporting that the European Union is indeed planning a full-blooded investigation, as confirmed by two anonymous sources.
The deadline for the EU to decide to proceed is this coming Thursday.
When asked to comment on the latest development, a spokesperson for Liberty Media said the company is continuing to "work constructively" with the regulators.
They also expressed confidence the EU will "understand the dynamic nature of the market".
The EU declined to comment.
It is interesting to note, however, that just a few days ago, Liberty Media announced the return of former F1 CEO Chase Carey to the board of directors.
Carey was replaced as F1 boss by Stefano Domenicali in 2022.
"Chase has been an excellent partner to Liberty for many years, from our investment in DirecTV in 2008 to Liberty's purchase of Formula 1 in 2017 where his role as CEO was key to securing the acquisition," said Liberty chairman John Malone.
"Chase's knowledge and expertise across media, entertainment, sports, business and more will be valuable to the board as our companies execute on their next chapters of growth and value creation."
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