06:54 AM EDT, 04/01/2024 (MT Newswires) -- Liberty Media ( LLYVB ) said Monday it has agreed to acquire Dorna Sports, the exclusive commercial rights holder to the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board for 4.2 billion euros ($4.53 billion) in cash, stock, and assumption of debt.

The acquisition adds the motorcycle race circuit to Liberty Media's ( LLYVB ) portfolio of live sports franchises, which includes Formula One Group racing. MotoGP is scheduled to host 21 races in 17 countries in 2024.

Under the terms of the deal, Liberty Media ( LLYVB ) will acquire 86% of MotoGP, which will retain an approximately 14% minority stake.

The transaction includes about 700 million euros in debt assumed by Liberty. The remaining 3.5 billion euros includes 65% cash, 21% in Liberty Formula One shares (FWONK) tracking stock to which MotoGP will be attributed, and 14% of MotoGP equity, the company said.

Greg Maffei, Liberty Media ( LLYVB ) president and CEO, said MotoGP has an enthusiastic fan base and a "cash flow generative financial profile."

The acquisition is expected to be completed by the end of the year, subject to clearances and approvals by regulatory authorities in numerous countries.