Ryan Reynolds and Rob McElhenney have invested in Formula 1 team, Alpine Racing.
The actor’s are among a group of investors taking a 24 per cent equity stake in the team, which also includes Michael B. Jordan.
Alpine’s parent company Renault announced the news on Monday, with the €200m deal valuing the team at around €900m following the investment.
Alpine are currently fifth in the constructors’ championship – one place lower than they finished the last campaign – and have been searching for investment to help close the gap to F1’s leading teams.
The Investor Group, formed of Otro Capital, RedBird Capital Partners and Maximum Effort Investments, have worked with NFL side Dallas Cowboys, America’s National Football League (NFL), French football club Toulouse FC and English football team Wrexham AFC.
Ryan and Rob famously bought Wrexham in November 2020, and have been a huge part of the club’s rejuvenation, bringing them back to the English Football League after 15 years.
In a statement, Renault Group CEO Luca de Meo said: “Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupe, 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.”
Alpine CEO Laurent Rossi added: “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 recognised 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.”
