Bridgepoint eyes £3.5bn bonanza from motor racing sale

The long-standing owner of the Moto GP global motor-racing series is in advanced talks to sell the business for more than £3bn.

Sky News has learnt that Bridgepoint, which is the biggest shareholder in Moto GP’s parent company, Dorna Sports, is seeking a valuation of up to €4bn (£3.4bn) in its negotiations with prospective buyers.

Liberty Media, the owner of Formula One, is understood to be the frontrunner to buy Dorna, although it is reportedly facing competition from a number of rival bidders.

One source said this weekend that Bridgepoint was trying to seal an agreement to sell Dorna within a matter of weeks, although they cautioned that the process remained competitive and the timetable for a deal uncertain.

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The eventual price could also deviate from the current €4bn target, they added.

Under Bridgepoint’s 18-year ownership, Moto GP has expanded internationally, with its commercial revenues driving a sharp increase in profitability.

The private equity firm owns close to 40% of Dorna, while a slightly smaller stake is held by Canada Pension Plan Investment Board (CPPIB).

The remaining shares are held by Dorna’s management.

Source: Skynews

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