Liberty Media aims to complete its acquisition of MotoGP by the end of 2024. The American media giant is working to add MotoGP to its holdings, and Greg Maffei, Liberty's president and CEO, recently discussed the deal’s progress.

As Liberty released its third-quarter financial report, Maffei confirmed that funding is now secured for the acquisition of Dorna, MotoGP’s parent company.

In August, Liberty announced it would sell an $825 million stake in F1 to help fund this acquisition. Now, in its quarterly update, the company reports it has “secured all funding for [the] MotoGP transaction.”

“The third quarter was busy, both at the corporate level and across our operating businesses,” Maffei stated.

He then highlighted several key moves, including Liberty’s merger with SiriusXM and the refinancing of F1’s debt facilities. Maffei emphasized the $850 million raised through a term loan B, plus $150 million in term loan A commitments, both designated for the MotoGP deal. Liberty also issued $949 million in FWONK shares, replacing the equity consideration to be paid directly in cash. According to Maffei, these actions complete the funding for the MotoGP purchase.

However, the acquisition has faced some challenges, mostly from Formula E founder Alejandro Agag, who has urged the European Commission to investigate the transaction. Maffei acknowledged this as the primary remaining hurdle.

Offering an update, Maffei said, “We are progressing with the European Commission, which is the last regulatory step. We still anticipate closing by year-end.”

Maffei also praised MotoGP’s management for their response to the flooding in Valencia, which led to the race being moved to Barcelona. “Our thoughts are with the Valencia community,” he said, crediting MotoGP’s CEO Carmelo Ezpeleta and his team for their swift, compassionate actions.

In addition to rescheduling the race, MotoGP has announced initiatives to support Valencia’s flood relief efforts.

Maffei highlighted MotoGP’s recent business updates, including a rights extension with the Fédération Internationale de Motocyclisme (FIM) through 2060, and the upcoming rebrand.

“We look forward to more exciting racing and Liberty’s involvement,” Maffei concluded.