The company was established in 1988 as an international sports management and marketing entity under Banco Banesto. In 1998 it was sold to CVC Madrid and renamed Dorna Sports. The purchase cost approximately $80 million and was closely supervised by Hardy McLain, one of the founders of CVC and a former Citibank executive. Following the acquisition, McLain left the operational running of the company to Dorna's CEO Carmelo Ezpeleta, who led the organisation through its most significant period of growth.
Dorna obtained the commercial rights to Grand Prix motorcycle racing in 1992 as part of a consortium that included Bernie Ecclestone and the IRTA, following the FIM-IRTA war over the commercial control of the sport. Dorna became the sole rights holder the following year, in 1993. This position gave the company full commercial and television rights over the MotoGP World Championship.
A central priority in the early years was transitioning the premier class from 500cc two-stroke machinery to four-stroke MotoGP bikes. Dorna worked with manufacturers to achieve this change, recognising that the development cost of specialist two-stroke engines produced commercially non-viable end products. The new MotoGP formula launched in 2002 and became the technical and commercial foundation of the championship's subsequent growth.
In 2013, Dorna acquired the commercial rights to the Superbike World Championship after its then-owner Bridgepoint Group transferred the series from Infront Sports, which had previously acquired the founding promoter FGSport in 2007. Bridgepoint had itself acquired Infront in 2011, making the transfer an internal reorganisation within the group's portfolio before Dorna took control.
Dorna had previously promoted the British Superbike Championship until MotorSport Vision acquired those commercial rights in 2008.
By 2006, Bridgepoint had become the majority shareholder of Dorna. In 2005, CVC Capital Partners had announced its acquisition of shares in Formula One's commercial rights holder SLEC, which triggered European Commission scrutiny. The Commission, under competition commissioner Neelie Kroes, determined that allowing CVC to control both Formula One and MotoGP would risk price increases for television rights and reduced consumer choice. CVC was required to divest Dorna as a condition of the Formula One deal. On 28 March 2006, CVC sold its remaining 71% stake in Dorna to the company's own management for £400 million.
In October 2023, reports emerged suggesting Dorna could be available for sale at approximately €2 billion. On 1 April 2024, Liberty Media announced an agreement to acquire 86% of Dorna for €4.2 billion, with 14% retained by Dorna's management team. The deal faced a Phase-II investigation from the European Commission, which delayed its closure beyond the originally projected end-of-2024 timeline. The European Commission ultimately approved the transaction, and the deal completed on 3 July 2025 with Liberty Media acquiring 84% rather than the originally announced 86%. Dorna became part of the Formula One Group, placing MotoGP and Formula One under the same corporate parent for the first time.
In February 2026, the company was renamed MotoGP Sports Entertainment Group.
In 2005, as internet publishing expanded, Dorna began charging online publications for press credentials to cover MotoGP events, with fees ranging from 100 to 1,000 euros. The practice was widely criticised within the motorsport media community as an attempt to restrict independent coverage.
In 2025, Dorna and Liberty Media announced the separation of the MotoGP Legends programme from the Hall of Fame. Under the new structure, the Hall of Fame would be limited to riders who competed in the premier class — MotoGP or 500cc — excluding those who achieved success only in the lower capacity classes. The decision drew criticism from the MotoGP community, with commentators arguing it amounted to an erasure of the sport's history. The case of Giacomo Agostini was frequently cited: his 15 world championship titles were being recounted as eight under the new criteria, since the remaining seven were won outside the premier class.