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Trio of Hollywood’s elite buys stake in Alpine F1 team
Consortium headed by actor Ryan Reynolds has confirmed an investment amounting to R4-billion.
Alpine’s Esteban Ocon sits in his car in the pits during the second practice session at the Red Bull Ring last year. (Photo by Jure Makovec / AFP)
Hollywood actors Ryan Reynolds, Rob McElhenney and Michael B. Jordan are among a consortium that has bought a 24 percent stake in Formula One team, Alpine.
Sport buy-in not new
Alpine’s parent company, Renault, announced on Monday that the group will invest 200 million euros for their stake, valuing the team at $900-million, to help Alpine’s “growth strategy and sporting ambitions”.
“Deadpool” star Reynolds and “It’s Always Sunny In Philadelphia” creator McElhenney have already enjoyed success with sporting investments as owners of football club Wrexham.
Backed by major investment, the Welsh side were promoted to the fourth tier of the English Football League in April for the first time in 15 years.
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“Creed” and “Black Panther” star Jordan also has a stake in Premier League club Bournemouth.
Reynolds’ Maximum Effort production company has teamed up with Otro Capital and RedBird Capital Partners, who recently took control of AC Milan and have a stake in Fenway Sports Group, owners of Liverpool and the Boston Red Sox.
Goal for Alpine
“Alpine F1 team will benefit from the investor group’s collective expertise and track record in the sports industry,” said a statement released by the Renault Group.
Alpine’s F1 engine-making entity in the suburbs of Paris is not part of the transaction and will remain entirely owned by Renault.
Since the Renault team was rebranded as Alpine in 2021, they have managed one Grand Prix victory and two other podium finishes.
Alpine finished fourth in the constructors’ championship last season and sit fifth in the standings eight races into the 2023 season.
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