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June 26 (UPI) — Actor Ryan Reynolds is expanding his sports investment portfolio by joining a group that has acquired a 24% stake in Alpine, the Formula 1 racing team announced on Monday.
Reynolds’ investment group, led by Maximum Effort Investments, along with Otro Capital and RedBird Capital Partners, contributed to the investment, which is estimated to be worth more than $200 million. Alpine, based in Enstone, England, stated that this financial injection values the team at $900 million.
Actors Michael B. Jordan and Rob McElhenney are Reynolds’ partners in this venture.
McElhenney and Reynolds previously joined forces to purchase Wrexham AFC, one of the oldest professional soccer teams in the world, in 2020. The team, based in Wrexham, Wales, was recently promoted to League Two, the fourth level of English soccer.
It is important to note that Renault’s engine division, located in Viry-Chatillon, France, is not part of the Alpine transaction and remains under the ownership of the Renault Group.
“Over the past two years, we have revitalized Alpine by leveraging its iconic A110 sports coupe and entering Formula 1, with the goal of becoming a championship contender,” said Luca de Meo, CEO of the Renault Group, in a Formula 1 news release. “This partnership will accelerate the development of Alpine F1 by diversifying revenue streams and increasing brand value.”
As of now, Alpine is in fifth place in the 2023 constructor standings with 44 points, trailing Red Bull Racing (321 points), Mercedes (167 points), Aston Martin (154 points), and Ferrari (122 points).
In previous seasons, Alpine finished fourth in 2022 and fifth in 2021, 2020, and 2019 when the team was known as Renault.
The current driver standings are led by Red Bull Racing teammates Max Verstappen (195 points) and Sergio Perez (126 points). Alpine’s Esteban Ocon and Pierre Gasly are currently in ninth and tenth place, respectively. Notably, Daniel Ricciardo, who raced for Renault in 2020, is now the third driver for Red Bull Racing.
The Austrian Grand Prix is the next race on the Formula 1 schedule, taking place this week. The ninth race of the season will be held at the Red Bull Ring in Spielberg at 9 a.m. EDT on Sunday and will be broadcasted on ESPN. Max Verstappen has won the last four Formula 1 races, with Sergio Perez winning the other two.
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