Ryan Reynolds Among New Investors Backing F1 Team Alpine In $218 Million Deal

BOULOGNE-BILLANCOURT, France — Ryan Reynolds and Rob McElhenney are turning their attention to Formula One after football.

The Alpine F1 team has received a 200 million euro ($218 million) investment from a consortium of investors, including the stars.

Renault Group, Alpine’s parent business, said Monday that the group had bought a 24% share in the squad. Reynolds leads it and comprises Otro Capital, RedBird Capital Partners, and Maximum Effort Investments.

“The transaction values Alpine Racing Ltd. at around $900 million following this investment,” the team stated. “It will accelerate Alpine’s growth plans and sporting ambitions in F1.”

Actor Michael B. Jordan is another investor.

Ryan Reynolds and Rob McElhenney are turning their attention to Formula One after football.

In November 2020, Reynolds and McElhenney completed a $2.5 million buyout of Welsh football team Wrexham. Because of its A-list owners, the club was propelled into the global spotlight and promoted to the fourth division of English football this season.

Alpine is fifth in the constructors’ championship with drivers Pierre Gasly and Esteban Ocon. The team finished fourth in the constructors’ standings last year and has struggled to close the gap on Red Bull, Ferrari, and Mercedes this season.

According to Renault, the investors have previous experience in the sports industry, having worked with the Dallas Cowboys, Fenway Sports Group, the NFL, French football club Toulouse, and Wrexham.

The transaction excludes Alpine Racing SAS, which produces F1 engines in France, and Renault Group will continue to be the sole owner.

SOURCE – (AP)