The Alpine F1 team has received a €200 million (£170m) boost from an investment group including Wrexham FC owners Ryan Reynolds and Rob McElhenney.
The group of investors consists of Otro Capital, RedBird Capital Partners – which holds a large stake in Fenway Sports Group, owners of English Premier League football club Liverpool – and Maximum Effort Investments, led by Hollywood actor Ryan Reynolds along with fellow actor and Wrexham FC owner Rob McElhenney. Another celebrity, ‘Black Panther’ star Michael B Jordan, has joined as a co-investor.
The share purchase values Alpine’s F1 team at $900m (£700m). The buy-in only involves Alpine’s F1 team and does not include Renault’s power unit factory at Viry-Chatillon in France, which remains owned by Renault.
Alpine CEO Laurent Rossi said the investment would enhance the team’s performance “at all levels.” Rossi said the investors would “bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.
“Second,” Rossi continued, “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.”
James Toney, co-founder of Maximum Effort Investments, said that there was “tremendous untapped potential” in the Alpine F1 team.
“We are eager to help shine a light on this incredible team,” Toney said. “We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”
Alpine finished fourth in last year’s constructors’ championship after beating rivals McLaren to the ‘best of the rest’ position behind last year’s three strongest teams. The team currently sit in fifth place on 44 points after eight rounds.
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