Liberty Media Corp (FWONA): M&A transaction — Liberty Media closes ~84% acquisition of Dorna Sports (MotoGP) for ~$3.3B; funds with cash and new debt

Liberty Media Corp

Acquired ~84% of Dorna; remaining ~16% retained by management sellers.
Purchase funded by ~$2.3B cash on hand and $1.0B borrowings under F1 facilities.
F1 incremental facilities added $150M TLA and $850M TLB, partially funding the acquisition.
Post-close, Formula One Group includes F1, MotoGP, and Quint.
Financial statements and pro forma to be filed by amendment within 71 days after July 10.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.97

Liberty Media Corp completed an acquisition involving Dorna Sports, S.L., Global Racing LX2 S.à.r.l., Global Racing LX1 S.à.r.l., and Dorna management equity holders for cash on hand of approximately $2.3 billion and borrowings of $1.0 billion under the F1 Facilities Agreement (closed 2025-07-03).

Action: acquisition
Counterparty: Dorna Sports, S.L., Global Racing LX2 S.à.r.l., Global Racing LX1 S.à.r.l., and Dorna management equity holders
Consideration: cash on hand of approximately $2.3 billion and borrowings of $1.0 billion under the F1 Facilities Agreement
Closing: 2025-07-03

Exact text from the filing

On July 3, 2025, Liberty Media completed its previously announced acquisition (the “ Acquisition ”), by Libertad Especia, S.L.U., a private limited company incorporated in Spain and a wholly owned subsidiary of Liberty Media (“ Buyer ”), of approximately 84% of the equity interests in Dorna Sports, S.L., a private limited company incorporated in Spain (“ Dorna ”), for cash pursuant to that certain Share Purchase Agreement, dated as of March 29, 2024, by and among Liberty Media, Buyer, Global Racing LX2 S.à.r.l., a company incorporated in Luxembourg, Global Racing LX1 S.à.r.l., a company incorporated in Luxembourg and Dorna management equity holders (the “ Management Sellers ”).

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Liberty Media Corp filing history →

Source: SEC EDGAR

accession 0001104659-25-065588

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