Liberty Media’s made a successful business of racing on four wheels. Now, it’s time for two wheels.Formula 1 owner Liberty Media is finally set to complete a deal to take control of motorcycle racing series MotoGP after receiving approval from the European Commission.

Formula 1 commercial rights owner, Liberty Media, can finally complete its acquisition of the MotoGP motorcycling world championship after receiving unconditional approval from the European Union’s European Commission executive arm.

The European Commission on Monday approved Liberty Media's (NASDAQ:FWONA) (NASDAQ:FWONK) €4.3B transaction to acquire the controlling stake in Dorna Sports, the exclusive rights holder of MotoGP. The nod by the EU regulator was Formula One owner's last hurdle,