Hollywood stars Ryan Reynolds and Rob McElhenney are part of an investor group that has taken a 24 per cent stake in the Alpine Formula 1 team.
The actors are investing alongside Otro Capital and RedBird Capital Partners, with the figure being set at €200 million (£171m).
The investment means that the Alpine squad is currently valued at over €800m.
Reynolds and McElhenney famously took over Wrexham AFC in 2021 and were subject to a popular Disney+ docuseries called Welcome to Wrexham.
Its ownership of the team has been hailed a success as Wrexham were promoted back to the Football League after winning the National League championship earlier this year.
Actor Michael B. Jordan is also part of the ‘Maximum Effort Investments’ group led by Reynolds.
Its Alpine co-investors also have a foot in sport, with RedBird being part of Fenway Sports Group, which owns Liverpool FC and the Boston Red Sox baseball team.
Alpine also announced that Alec Scheiner, Co-Founder and Partner of Otro Capital, will join Alpine Racing Ltd’s Board of Directors.
“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,” said Luca de Meo, CEO of Renault Group.
“This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”
Added 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.”
Alpine ended the 2022 Formula 1 season in fourth place in the Constructors’ Championship.
After the opening eight rounds of the 2023 campaign, the French squad sits fifth in the standings.
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