Deal Description: Liberty Media Corporation (“Liberty”) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) announced on August 18, 2025 that Dorna Sports, S.L. (“MotoGP”) closed the refinancing and maturity extension of its first lien Term Loan B, first lien Term Loan A and first lien revolving credit facility on August 18, 2025. MotoGP is a subsidiary of Liberty and is the exclusive commercial rights holder of the FIM MotoGP™ World Championship.

MotoGP refinanced the previous €975 million Term Loan B with a maturity of March 31, 2029 with a new €800 million Term Loan B with a maturity of August 18, 2032, the previous €150 million Term Loan A with a maturity of September 29, 2028 with a new $232.5 million Term Loan A with a maturity of August 18, 2030 and the previous €100 million multicurrency revolving credit facility with a maturity of September 30, 2028 with a new €100 million multicurrency revolving credit facility with a maturity of August 18, 2030.

Baker Botts represented Liberty.

Liberty's press release may be found here.

Baker Botts Lawyers/Offices Involved:

Finance: Stuart McIntyre (Partner, London), Nicholas Jones (Special Counsel, London), Jennifer O’Donoghue (Associate, London).

Tax: Josh Mandell (Partner, Dallas); Nick Frey (Associate, San Francisco).

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