DOUGLAS COUNTY, Colo. — Douglas County-based Liberty Media Corp. has secured the necessary funding to acquire 86% of MotoGP, a motorcycle grand prix league, in a deal worth $4.5 billion, the company announced during its quarterly earnings call.
Liberty Media, which owns a stake in Live Nation and the Formula 1 car racing circuit, said it expects its purchase of MotoGP to cross the finish line by the end of the year.
The company also announced “making progress” with the European Commission to complete the deal, the only remaining regulatory hurdle to closing the transaction.
To help finance that, Liberty Media refinanced one of its loan and extended the maturities of two Formula One Group term loans, setting Term Loan A and the revolving credit facility to mature in September 2029 and the Term Loan B to mature in 2031, the company said.
F1 raised an incremental $850 million of Term Loan B commitment in addition to $150 million of Term Loan A that it obtained in April, Liberty Media said, and some of that money will be used in the MotoGP acquisition.
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