Just a few months after their initial success as owners of the Welsh soccer club Wrexham, actors Ryan Reynolds and Rob McElhenney are making another bold move. They, along with investment groups Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, which includes Michael B. Jordan, are taking a significant stake in Formula 1 team Alpine Racing. This deal, valued at approximately $218 million, will give the group a 24% equity stake in Alpine Racing and aims to accelerate the team’s growth plans and sporting ambitions in F1, according to Renault, the parent company.
Relying on the investor group’s collective expertise and track record in the sports industry, Renault believes this partnership will greatly benefit Alpine. Laurent Rossi, CEO of Alpine, stated that the association with these investors will enhance their performance at all levels. He specifically mentioned the expertise in media and marketing strategy that the group brings, which is essential for long-term success. The incremental revenue generated from this partnership will be reinvested in the team to further accelerate Alpine’s Mountain Climber plan, which aims to catch up with the top teams in terms of state-of-the-art facilities and equipment.
With this investment, Alpine is now valued around $900 million. Currently, the team ranks fifth in the Formula 1 constructor standings. RedBird, one of the investors, has previous relationships with the Fenway Sports Group, which owns teams like the Boston Red Sox and Pittsburgh Penguins. Maximum Effort Investments co-founder James Toney expressed their belief in the untapped potential of Alpine Racing and their eagerness to shine a light on the team.
This investment comes after Reynolds and McElhenney purchased Wrexham for $2.5 million in 2021. The team experienced a surge in popularity, winning the National League title and securing a place in the English Football League for the first time in 15 years. Overall, this partnership with Alpine Racing represents another strategic move by Reynolds and McElhenney in the sports industry.
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