Formula One owners strike £3.6bn deal for 'global' project amid Tottenham takeover deal

Formula One owners Liberty Media, who have previously been linked with investing inTottenham Hotspur, have bought MotoGP in a deal valued at £3.6billion.

In the summer, the CEO of the company hinted that he could be interested in investing in a Premier League club. The American-based mass media company has enjoyed an impressive rise in F1 after taking over from Bernie Ecclestone in 2017 for £3.3billion.

CEO Gregg Maffei confirmed that the company had pondered all the possible opportunities in the Premier League, though he did suggest that the right deal hadn't come forward.

«I would dispute buying on the cheap,» he said. «We like to buy for a fair price then hopefully build value.»

He added: «You mention the Premier League teams; there isn't an asset we haven't looked at. That doesn't mean we've been ready to buy them all but we look at everything because we do think sports in general is attractive, we do think there are upsides and do think those things that management teams have taught up can help apply perhaps in other sports situations.”

However, the media company has now purchased the motorbike series, MotoGP, from Spanish company Dorna Sports. The deal will see them acquire about 86% and is expected to be completed by the end of the year.

Awkward Daniel Levy moment with his bonus as he seeks Tottenham investment with FFP status clear

Daniel Levy admits Tottenham in talks with new investors amid record-breaking financial results

»«MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile,» Maffei said.

«The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.»

Liberty