Formula One owner Liberty Media has bought MotoGP in a deal worth £3.6billion.
The US media conglomerate initially bought F1 from CVC Capital Partners back in 2017. It has now taken over the motorbike series’ parent company - Dorna Sports - which has owned MotoGP since 1992.
Liberty Media will acquire around 86% of Dorna while the Spanish company retains the rest of the business. The acquisition is expected to be completed by the end of 2024, subject to clearances and approvals by law authorities.
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Liberty Media president and chief executive officer Greg Maffei said the company was "thrilled" to be expanding its live sports portfolio.
"MotoGP is a global league with a loyal, enthusiastic fan base, captivating racing and a highly cash flow generative financial profile,” he said.
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"The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders."
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Meanwhile, Dorna chief executive officer Carmelo Ezpeleta stated Liberty has an "incredible track record in developing sports assets".
"We are proud of the global sport we've grown, and this transaction is a testament to the value of the sport today and its growth potential," Ezpeleta said.
The first ever MotoGP season took place back in 1949. It featured just six rounds of racing, but has since grown into hosting 20 Grands Prix across five continents.
Currently leading this year’s championship is Spanish rider Jorge Martin. He is flying high on 60 points, while Brad Binder of South Africa trails him on 42 points.
Valentino Rossi is regarded as the most successful champion of the modern era, with nine world titles to his name. Rossi retired in 2021 and is a friend of Lewis Hamilton, the joint-most successful F1 driver in history.