Hollywood actor Ryan Reynolds and his business partner, American actor Rob McElhenney who are co-owners of Wrexham FC have purchased part of the Alpine F1 Team as part of a wider investment deal.
Renault Group and Alpine welcome Otro Capital, RedBird Capital Partners and Maximum Effort Investments who have purchased a 24 percent stake in the Enstone outfit.
Speaking about today’s announcement, Luca de Meo, CEO of Renault Group:
“Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”
Laurent Rossi, CEO of Alpine:
“This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term. Second, the incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment.”
Alec Scheiner, Co-Founder and Partner of Otro Capital:
“We are thrilled to have the opportunity to invest in Alpine F1. We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine’s business operations and brand building, especially in North America.”
James Toney, Co-Founder of Maximum Effort Investments:
“Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing. We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”
The Alpine F1 Team heads to the Austrian Grand Prix this weekend in fifth place in the championship in 44 points.