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.
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
Can’t stop reading? Read more
Blackstone powers up Dropbox with $2.7bn private credit boost
Blackstone powers up Dropbox with $2.7bn private credit boost Blackstone has expanded its private...
NFL legends and Chick-fil-A heir team up to form sports investment firm
NFL legends and Chick-fil-A heir team up to form sports investment firm Former NFL stars John...
Industrial Opportunity Partners takes ownership of Charcuterie Artisans in expansion push
Industrial Opportunity Partners takes ownership of Charcuterie Artisans in expansion push...