Ryan Reynolds is not only known for his acting skills, but he’s also an entrepreneur with successful ventures in the gin and cell phone industries. He even owns a football club in Wales, which has drawn comparisons to the popular show “Ted Lasso.” As if that’s not enough, Canada occasionally writes songs dedicated to him. Despite being a busy father of four, Reynolds continues to explore new investments. According to the New York Times, his latest venture expands his sports portfolio in Europe with the acquisition of a 24% stake in the Formula 1 Alpine team, which is owned by French automaker Renault. The investment, valued at around $218 million, is made through Reynolds’ Maximum Effort Investments, along with RedBird Capital Partners and Otro Capital. Notable co-investors include Rob McElhenney, Reynolds’ co-owner of Wrexham AFC, and actor Michael B. Jordan.
The recent deal, valued at approximately $900 million, has been labeled by Axios as “another crazy-high valuation for a professional sports outfit.” Formula 1 has gained popularity in the US in recent years, with new races being added in Las Vegas and Miami as part of the Grand Prix circuit. The sport has also collaborated with Netflix on the mini docuseries “Drive to Survive,” which is currently in its fifth season. Laurent Rossi, CEO of Alpine, expressed the belief that this association will contribute to their overall performance, as mentioned in ESPN. (Read more Ryan Reynolds stories.)
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
