CVC chooses Formula one over Moto GP

Bridgepoint is to buy Dorna, the Spanish sports business that owns the promotional rights for MotoGP, from CVC for an undisclosed sum, although reports have put the figure at €400m.

Bridgepoint is reported to have fought off interest from Advent, Apax Partners, Lion Capital, PAI Partners and Permira in the auction.

CVC acquired a 71% interest in the company in 1998 for around £78m but was forced by the European Commission to sell its shareholding after it bought SLEC, the owner of the Formula One Group, for £583m in March this year. Dorna, as well as being the promoter of the Moto GP motorcycle Championship, is also responsible for the FIM Supercross World Championship, the Spanish Road Racing Championship and the British Superbike Championship.

By selling Dorna, the Commission concluded that CVC’s Formula One transaction would not cause competition concerns. Neelie Kroes, competition commissioner, said: “When the two most popular motor sport events in the EU, Formula One and Moto GP, come into the hands of one owner, there is a risk of price increases for the TV rights to these events and a reduction in consumer choice.”