Mumbai: Star MotoGP riders tested their ability to play cricket on Thursday as they celebrated the spirit of motorspo
MUMBAI: Canada Pension Plan Investment Board (CPPIB) has signed an agreement to invest in Dorna Sports S.L. (Dorna) following the sports management company?s recent acquisition of the FIM World Superbikes Championship.
CPPIB will acquire a 39 per cent stake in the enlarged group alongside current shareholders, Bridgepoint and Dorna management.
Dorna holds the global rights until 2036 to organise the FIM Road Racing World Championship Grand Prix, known as MotoGP, the motorcycle racing series. Dorna recently expanded its group following the acquisition of the FIM World Superbikes (SBK) Championship which together represent the two pre-eminent motorcycle racing series in the world.
CPPIB senior VP, Private Investments Andr? Bourbonnais said, "This is a unique opportunity to invest in a leading international sports management business. Dorna??s experienced management team has demonstrated a remarkable ability to deliver consistent and strong performance."
Founded in 1988, Dorna is an international sports management, media and marketing company that holds the global commercial and broadcasting rights for MotoGP. Dorna delivers the MotoGP product and brand to a very broad audience globally, by leveraging the series?? rich heritage and wide popularity.
"We look forward to working together with Dorna??s CEO, Carmelo Ezpeleta, his management team and Bridgepoint to continue Dorna??s global growth and to pursue exciting opportunities to expand into emerging markets," added Bourbonnais.
Bridgepoint managing partner William Jackson said, "This is very good news for Dorna. I??m delighted that CPPIB is to become a fellow shareholder to support the business at a time when the sport is moving to an exciting new stage in its development and both series continue their expansion."
Dorna CEO Carmelo Ezpeleta said, "I welcome CPPIB as a new shareholder. Alongside Bridgepoint, we now have long-term institutional support in place as we bring together for the first time the two top motorcycle racing series under one roof and as we develop and strengthen both championships."
The transaction is expected to close in the current quarter and is subject to customary conditions.