Ryan Reynolds, Rob McElhenney and Michael B. Jordan are among a group who have acquired a 24% equity stake in the Alpine Formula 1 team.
Alpine, owned by French automotive giant Renault, revealed earlier in the year that it was seeking fresh investment and on Monday a consortium of investors was announced. Otro Capital, RedBird Capital Partners and Maximum Effort Investments, together known as The Investor Group, will inject approximately $218 million into Alpine’s Formula 1 team.
The Investor Group has a wide-ranging sporting portfolio, including stakes in the Dallas Cowboys, Fenway Sports Group—which owns Boston Red Sox and Liverpool FC soccer team—Toulouse FC and Wrexham AFC.
Reynolds and McElhenney famously acquired fifth-tier soccer team Wrexham in 2020 and last season guided them to promotion into the English Football League after a 15-season absence.
Alec Scheiner, the co-founder and partner of Otro Capital, will join Alpine’s board of directors. The investment values Alpine’s Formula 1 team at $900 million.
Alpine Racing SAS, the entity which manufacturers the power units in France, is not part of the deal and will remain entirely owned by Renault.
Alpine, which this year fields drivers Pierre Gasly and Esteban Ocon, harbors long-term Formula 1 title ambitions and last year finished fourth in the constructors’ championship. This year Alpine has claimed one podium finish, courtesy of Ocon in Monaco, but has slipped to fifth in the standings.
Alpine is striving to further its presence worldwide, and establish itself as a motorsports franchise, with Formula 1 at the forefront of its brand.
“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi.
“Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.
“Second, the incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment.”
