Tottenham Hotspur news comes as Liberty Media continues to engage in the sporting world with a significant move in MotoGP.
Liberty Media, the proprietors of Formula One who were previously linked with investing in Tottenham Hotspur, has bought MotoGP for £3.6 billion.
In the summer, the company’s CEO hinted at an interest in investing in a Premier League club. The American media corporation has had an excellent development in Formula One after taking over from Bernie Ecclestone in 2017 for £3.3 billion.
CEO Gregg Maffei said that the company had considered all prospective Premier League prospects, but added that the appropriate arrangement had not emerged.
“I would dispute buying on the cheap,” that’s what he said. “We like to buy for a fair price then hopefully build value.”
He said, “You mentioned Premier League teams; there isn’t an asset we haven’t looked at. That doesn’t mean we’re ready to acquire them all, but we’re looking at everything because we believe sports in general are appealing, that there are benefits, and that the lessons management teams have taught us can be applied in other sporting circumstances.
However, the media business has now purchased the MotoGP motorcycle racing series from Spanish corporation Dorna Sports. The transaction will see them purchase approximately 86% and is scheduled to be completed by the end of the year.
“”MotoGP is a global league with a devoted, enthusiastic fan base, thrilling racing, and a strong cash flow generating business profile,” Maffei stated.
“The business has significant upside, and we intend to grow the sport for MotoGP fans, teams, commercial partners and our shareholders.”
Liberty Media is expected to be connected as potential investors in Tottenham after Daniel Levy revealed that the club is in negotiations with potential investors. Levy’s comments come after Spurs reported a record revenue of £549.6 million for the 2022/23 season.
The Spurs chairman confesses that “the board and its advisors, Rothschild & Co, are in discussions with prospective investors” because the north London outfit needs to “continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base”.
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