Japan records surprise trade deficit in July as exports weaken further
ENGLEWOOD, Colo. - Dorna Sports, S.L. (MotoGP), a subsidiary of Liberty Media Corporation (NASDAQ:FWONA, FWONK), with a market capitalization of $2.91 billion, has completed a comprehensive refinancing of its debt facilities totaling approximately €1.2 billion, according to a press release statement issued Monday. According to InvestingPro data, the company operates with a moderate debt level and has demonstrated steady revenue growth of 6.5% over the last twelve months.
The refinancing includes a new €800 million Term Loan B with maturity extended to August 18, 2032, replacing the previous €975 million facility that was set to mature in March 2029. Additionally, MotoGP refinanced its €150 million Term Loan A with a new $232.5 million facility extending maturity to August 2030, and renewed its €100 million multicurrency revolving credit facility with the same 2030 maturity date. With a current ratio of 0.64, InvestingPro analysis indicates the company’s short-term obligations exceed its liquid assets.
As part of the transaction, MotoGP reduced its overall debt by €125 million using cash from its balance sheet. Following the refinancing, the company holds approximately $187 million in cash and liquid investments with a principal debt amount of $1.2 billion, based on June 30, 2025 figures.
The refinancing also secured more favorable interest terms, with the Term Loan B margin reduced from 3.25% to 2.75%, the Term Loan A margin cut from 2.50% to 1.75%, and the revolving credit facility margin decreased from 2.50% to 2.25%. All facilities include variable rates based on MotoGP’s consolidated net senior secured leverage ratio, which stands at 5.2x as of June 30, 2025.
The debt facilities remain non-recourse to Liberty Media, meaning they are secured solely by MotoGP assets. MotoGP and its debt are attributed to Liberty’s Formula One Group tracking stock. With a beta of 0.82, the company demonstrates relatively low price volatility compared to the broader market. Get deeper insights into Liberty Media’s financial health and 8 additional key ProTips with InvestingPro’s comprehensive research report.
Dorna Sports has been the exclusive commercial and television rights holder of the FIM MotoGP World Championship since 1991 and also holds rights to several other motorcycle racing series.
In other recent news, Atlanta Braves Holdings, Inc. announced updates to its executive compensation structure, including the approval of new performance stock unit awards. These awards will vest over a three-year period, contingent on the company’s revenue growth, and are aimed at incentivizing key executives, including Chairman and CEO Terence F. McGuirk. Additionally, Atlanta Braves Holdings reported the results of its Annual Meeting of Stockholders. At the meeting, stockholders elected two Class II directors, with Terence F. McGuirk and Diana M. Murphy set to serve three-year terms.
Meanwhile, Liberty Media Corporation has received final approval from the European Commission for its acquisition of Dorna Sports, the commercial rights holder of the MotoGP World Championship. The transaction, valued at €4.3 billion, is expected to be completed by July 2025. This marks the final regulatory hurdle for Liberty Media in finalizing the acquisition. These recent developments highlight significant strategic moves by both Atlanta Braves Holdings and Liberty Media.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.