In an exciting turn of events, Hollywood actors Ryan Reynolds and Rob McElhenney, also co-owners of the Wrexham football club, have made an ambitious venture into Formula 1 racing.
Ryan Reynolds and Rob McElhenney have partnered with an investor consortium to buy a significant 24 percent equity stake in Alpine, the Formula 1 racing team.
The parent company of Alpine, Renault, confirmed this in an official announcement, highlighting the presence of Otro Capital and RedBird Capital Partners alongside Reynolds and McElhenney.
The consortium’s investment is valued at a staggering 200 million euros, catapulting the overall value of Alpine Racing to an impressive £706 million, equivalent to around $900 million. The major financial leap illustrates the new stakeholders’ high ambitions and serious intentions to push Alpine to the next level.
Track Record in Sports Investment
Reynolds and McElhenney are not new to sports investment. In 2021, they made headlines when they purchased Wrexham, a football club in Wales. Under their leadership, the team celebrated its return to the Football League after a hiatus of 15 years. This feat was accomplished with the club winning the National League title in April, marking a successful chapter in their sports ownership journey.
Their new partners, RedBird Capital, are no strangers to sports investments either. The U.S.-based investment firm holds a stake in Fenway Sports Group, which owns the Premier League Titans Liverpool and the Boston Red Sox baseball team. In August 2022, RedBird added Italian Serie A club AC Milan to its portfolio in a massive €1.2 billion deal. The firm also maintains a controlling stake in Toulouse, a team in French Ligue 1.
A Game-Changing Partnership
The joining of forces by Reynolds, McElhenney, and RedBird is seen as a significant move by Alpine’s management. Laurent Rossi, the Chief Executive of Alpine, regards this association as a key step in enhancing the team’s performance at various levels. The Hollywood glamour and astute investment acumen are anticipated to steer Alpine onto a fast-paced trajectory in Formula 1 racing.
