The Alpine Formula 1 Team has finalised the sale of a shareholding valued at €200 million to a group of US-based investors.
Earlier this year it was announced that Otro Capital had acquired a 24% stake in Alpine Racing Limited which tipped the team’s valuation over the €800 million mark.
With the deal now completed, Otro co-founder and partner Alec Scheiner has joined Alpine Racing Ltd’s Board of Directors.
Otro’s investment was supported by RedBird Capital Partners and Maximum Effort Investments, the latter led by Hollywood actor Ryan Reynolds who also welcomed fellow Wrexham Football Club co-owner and actor Rob McElhenney onboard.
In October, Otro revealed that a series of sports stars were also behind the investment including Patrick Mahomes and Travis Kelce of the NFL’s Kansas City Chiefs, footballers Trent Alexander-Arnold and Juan Mata, golfer Rory McIlroy and boxer Anthony Joshua.
Alpine hopes that investment from the group of A-listers and sporting legends will raise the team’s profile in the United States and serve as a statement of intent to potential sponsors.
“What they are bringing is first trust in the project, which is very important,” Alpine interim team principal Bruno Famin told Autosport.
“If you have people investing a lot of money in your company that means that people trust and believe that the project will work. That’s the very first thing, and we are very happy with that.
“And the second thing they will bring, which is very important as well, is that they are very strong and very connected to potential partners and sponsors, and they will help us on that field.
“It’s already in action. Now we don’t see the fruit yet of course, because it takes a bit of time, but it’s already in action.
“There was no delay, and everything is working from day one.”
CEO of Alpine Cars Philippe Krief and general counsel Michaell Smith have also been added to Alpine F1’s board.
