Liberty Media is set to partially finance its purchase of MotoGP by divesting more than 10 million Formula 1 shares.
"Liberty Media intends to exercise its option to deliver additional cash in lieu of shares of (Formula 1) as part of its previously disclosed proposed acquisition of Dorna Sports," an official media statement indicated.
This statement suggests that Dorna, the entity holding the commercial rights for MotoGP, prefers cash payment over receiving Formula 1 shares.
Liberty disclosed its intent to acquire MotoGP, the motorcycling counterpart to F1, in early April of this year.
At that time, the company emphasized that MotoGP would "remain an independently run company attributed to Liberty Media's Formula One Group tracking stock."
