A group of American investors, including actor Ryan Reynolds, has spent 200 million euros to acquire a 24% stake in the French Formula 1 team Alpine, said Renault, parent company of ‘Alpine on Monday in a statement.
“Renault Group and Alpine welcome the group of investors made up of Otro Capital and its partners, RedBird Capital Partners and Maximum Effort Investments with a capital ofAlpine Racing Ltdthe entity in charge of Formula 1 activities based in Enstone”, in the United Kingdom, writes the French manufacturer.
The transaction values Alpine Racing Ltd at approximately $900 million following an investment that will accelerate Alpine’s growth strategy as well as Alpine’s sporting ambitions in Formula 1. Renault.
Today, Renault Group and Alpine announce the sale of a 24% stake in Alpine Racing Ltd to a strategic investor group.
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— BWT Alpine F1 Team (@AlpineF1Team) June 26, 2023
Alpine joins AC Milan, the New York Yankees… and Wrexham AFC
Investors are already very involved in the sport since RedBird Capital owns the football clubs of AC Milan (Italian D1) and Toulouse FC (French D1) and notably holds interests in the capital of the New York Yankees (baseball), the Dallas Cowboys (American football) and in the Fenway Sports Groupwhich owns the Boston Red Sox (baseball), Pittsburgh Penguins (ice hockey) and English football club Liverpool.
Maximum Effort Investments is directed by the actors Ryan Reynolds et Rob McElhenneywho also own the Welsh football club Wrexham AFC, which has just been promoted to English D4.
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“Alpine F1 Team will benefit from (the investors’) expertise and experience in the sports industry, particularly in the areas of media, sponsorship, ticketing, hospitality, licensing and merchandising strategy. “, but also “in terms of data and technology, key factors of marketing and commercial performance”, writes Renault.
Activities based in France not impacted
Alpine had finished fourth in the constructors’ world championship in F1 in 2022. It is currently in fifth place a third of the 2023 season, with its two French drivers, Esteban Ocon and Pierre Gasly.
“This alliance is an important step for the development of our performance at all levels”, rejoiced the CEO of Alpine, laurent rossireferring to the “ambition” of “compete with the best teams”.
Renault also specified that this investment concerned exclusively the activities based in Enstone (UK)and not the engine department based in Viry Chatillon (France)which will remain entirely owned by the French manufacturer.