Liberty Media CEO Greg Maffei has confirmed seven-time Formula 1 world champion Lewis Hamilton’s interest in MotoGP team purchase.
Hamilton’s interest in MotoGP is not entirely surprising, given his longstanding passion for motorsport, especially in the wake of Liberty Media’s impending acquisition of MotoGP for approximately €4.2 billion (around $4.5 billion).
The acquisition is expected to be finalized by the end of 2024, positioning Liberty Media to implement strategies that could enhance the commercial viability of MotoGP, similar to what they have achieved with F1.
Maffei elaborated on the growing interest in MotoGP in a recent Goldman Sachs Communacopia & Technology Conference, stating that Hamilton is among many potential buyers eager to capitalize on the sport’s rising profile.
“I think MotoGP is an unbelievably exciting product,” Maffei began. “To see people riding motorcycles at 220mph, six inches from each other is wild. And the overtaking there is incredibly impressive.
“It’s an exciting product. It’s unfortunately one that is too little known in the United States, and around the world there is interest in Asia and places. But the real heart of it has been Spain, Italy, to some degree France.
“I think there’s an opportunity to expand it. When we announced [the acquisition], we had immediately people call up and say, I want to buy a team, including people like Lewis Hamilton.
“Why? Because they saw what had happened in Formula 1, and they want to follow.
“We had major distributors call up and say ‘we want to be involved’, and unfortunately I had to tell them ‘we really can’t talk about it until we get EU approval’.
“We’d love to talk once we get it.”
Liberty Media made several major adjustments to F1 after acquiring the racing series in 2017 and has continued to further develop the sport.
While Netflix’s Drive to Survive docuseries served as a major contribution to market the sport, Liberty had already taken a number of steps to broaden and diversify Formula 1’s global audience, even going so far as to rebrand the F1 website as well as social media presence to feel more modern.
Consequently, F1’s value increased by an astounding 114% during Liberty’s oversight, according to a January 2023 Forbes report.
Therefore it makes sense the motorbike-based sport could flourish similarly if regulators approve Liberty Media’s MotoGP aquisition, and this could have inspired Hamilton to get in touch.
“At a team level, in general, teams don’t cash flow as well,” Maffei said at the Goldman Sachs conference.
“It’s not absolutely true. NFL teams cash flow pretty well, but in general, we’re still too traditional in wanting that cash flow in addition your ability to change the dynamics, to set the stage and do the things that you want are far better, far easier, more manageable.”
Lewis Hamilton’s foray into team ownership is not entirely new. He previously ventured into team ownership with his Extreme E team, X44, although that initiative was discontinued earlier this year. Additionally, the Brit holds a minority stake in the NFL’s Denver Broncos, showcasing his diverse interests across different sports.
Hamilton’s interest in MotoGP aligns with a broader trend among athletes who seek to diversify their portfolios beyond their primary sports.
Reports have emerged that Hamilton is in talks to acquire Gresini Racing, a prominent team in MotoGP. According to Speedcafe a member of his entourage was spotted at the recent Dutch Grand Prix, suggesting that serious discussions are underway.
