Liberty Media are reportedly set to secure important backing from the European Union to complete its purchase of MotoGP.

report that the EU will provide unconditional antitrust approval enabling the $3.8 billion (3.5 billion Euros) acquisition to go ahea❀d.

Reuters cite “💦people with direct kno꧋wledge of the matter” as the source.

Liberty Media edge closer to MotoGP

Liberty Media - the United States-based owners of Formula 1 - announced that 🎃they had struck a deal to buy 86% of MotoGP a year ago.

The remaining 14% was to remain with Dorna.

The deal requires approval from the European Commission, which acts on behalf of the♌ EU on matters around competition in business. Reuters report that the European Commission will pass through the deal.

July 1 is the deadline for the deal.

"There is a very large and growing market for audiovisual entertainment well beyond sports, and the transaction will enhance MotoGP's ability to compete in this highly competitive🐻 market," a Liberty Media spokesperson said.

Previously, the EU had warned that TV broadcast rights could increase in price because Liberty Media would hold the key to Formul𓂃a 1 and MotoGP.

An investigation reportedly centred on whether John Malone (the largest shareholder in Liberty Media and US cable TV comp🍒any Liberty Global) would have decisive influence over both companies, and whether he could shut out competitors.

This hurdle is now set to be cleared, according to✅ Reuter’s latest report.