Actors Ryan Reynolds and Rob McElhenney, owners of an English fourth division football team, have now shifted their attention to Formula One.
The Renault group, the parent company of the Alpine team in Formula 1, announced on Monday that it had sold 24% of its shares to a group of investors based in the United States, and the group includes actors Ryan Reynolds and Rob McElhenney.
Ryan Reynolds & Rob McElhenney secure 25% of Alpine F1 team
Already owners of Wrexham, an English team that has just celebrated its return to the fourth division, Reynolds and McElhenney (via Maximum Effort Investments) join Otro Capital and RedBird Capital Partners (majority owner of TFC and bought AC Milan last year) within a group of investors who bought 24% in Alpine Racing, Renault, the parent company of the Formula 1 team, announced on Monday.
BREAKING: Ryan Reynolds and Rob McElhenney are part of an investment group that has bought nearly 25% of Alpine F1 in a £171m deal 🏎️⚽ pic.twitter.com/LWGQc9VTVC
— Sky Sports News (@SkySportsNews) June 26, 2023
The €200 million deal now values the British-headquartered Alpine F1 Team at around $900 million (€825 million) upon completion of the investment. “This association is an important step to improve our performance at all levels”, declared the team’s CEO Laurent Rossi.
Rossi believes that “Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players” have “strong experience in the sports industry” and “will bring their recognized expertise to strengthen our media strategy and marketing, essential to support our sporting performance over the long term.”
With new funds, Alpine now plans to be a strong player in Formula 1. The three time Constructors’ World Champions- under the name of Benetton in 1995 and under the name of Renault Works Team in 2005 and 2006, the French team finished fourth in this ranking last season. This year, it is in 5th place behind Red Bull, Mercedes, Aston Martin and Ferrari with 44 points.
