The Alpine Formula 1 team has sold a 24% stake to a US-based group of investors that includes Wrexham FC owners Ryan Reynolds and Rob McElhenney.
Alpine’s parent group Renault announced on Monday that the 200m euro investment has come from a group of investors that will boost the value of the team.
Otro Capital, RedBird Capital Partners and Maximum Effort Investments are part of the added investment, which increases Alpine’s value to $900m.
US investment firm RedBird’s holds the third-largest stake in Fenway Sports Group, who owns Major League Baseball team Boston Red Sox and Premier League club Liverpool FC, as well as a controlling stake in AC Milan and Toulouse.
Hollywood actors Reynolds and McElhenney are part of Maximum Effort Investments, with fellow actor Michael B Jordan also a co-investor.
Otro Capital’s co-founder Alec Scheiner will join Alpine’s Board of Directors, as the Enstone-based outfit looks to reap the benefits from an increased portfolio.
In a statement, Renault said Alpine would “benefit from the investor group’s collective expertise and track record in the sports industry including media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies to unlock incremental value creation and new growth levers.
“The investor group has a strong track record of company-building with recognized partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC.
“Alpine F1 team will also benefit from the Investor Group’s expertise in data and technology, key enablers of marketing and commercial performance.”
Alpine CEO Laurent Rossi felt the investment was an “important step” towards helping the team achieve its long term objective of fighting for world championships.
“This association is an important step to enhance our performance at all levels,” Rossi said.
“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.”
Renault is clear the new investment only involves the F1 team at the Enstone factory and not the engine division based in Viry-Chatillon.
Alpine currently sits fifth in the constructors’ championship after eight races in 2023, with Esteban Ocon’s third place finish in Monaco its best result.
