F1: Deadpool Star Ryan Reynolds Now Owns 24 Percent of Alpine Racing Team

In addition to Otro Capital and RedBird Capital Partners, Hollywood stars Ryan Reynolds and Rob McElhenney are acquiring a 24 percent equity share in Alpine Racing via their ownership of Wrexham.

By Divyam Dubey | on June 26, 2023 Follow us on Autox Google News

The French F1 team Alpine has received a EUR 200 million financial infusion from a consortium of investors including Hollywood actor Ryan Reynolds. RedBird, a US investment corporation, has the third-largest holding in Fenway Sports Group, the parent company of both the Boston Red Sox and England's Liverpool FC. Moreover, it has a financial interest in the football teams AC Milan and Toulouse. Enstone has added Alec Scheiner, co-founder of Otro Capital, to its Board of Directors. Renault stated that the investor group's combined knowledge and experience in areas such as media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising would help Alpine unlock incremental value creation and new growth levers in the sports industry. The investment is focused only on the Alpine Formula One team, Renault's engine section in Viry will remain wholly owned by the Renault Group. Alpine has announced this as part of a broader plan to hit 8 billion euros in sales by 2030 and achieve profitability by 2026.

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F1: Deadpool Star Reynolds heads Maximum Effort Investments

Actor Michael B. Jordan and 'Deadpool' star Ryan Reynolds are two of the principal investors with Rob McElhenney of 'It's Always Sunny in Philadelphia. In April of this year, the Welsh football club Wrexham, which Reynolds and McElhenney purchased in November 2020, returned to the English Football League as the winners of the fifth division.

While racing as Renault's works team in 2005 and 2006, and as Benetton in 1995, Alpine Racing, based out of Enstone in central England, won the Formula One constructors' world championship on three separate occasions. They were fourth in the championship standings last season and are presently fifth.

Renault Group CEO Luca de Meo said, “Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupe, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”

F1 Alpine

Alpine CEO Laurent Rossi added: “This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised 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.”

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F1: Alpine's Canadian Race Performance

F1 Alpine 1

Both Esteban Ocon and Pierre Gasly were dissatisfied with their results at the Canadian Grand Prix, although for different reasons. Gasly was disappointed that he was unable to use the "potential" in Alpine's package, while Ocon was disappointed that he did not finish higher. Ocon was sixth on the grid, but he had a great start and passed Nico Hulkenberg for fifth early on, and then moved up another spot when George Russell hit the wall.

Ocon tried to pass Albon in the last stages of the race, but he was unable to do so and finished ninth instead. Even though he was glad to have scored again, he was dissatisfied with his result.

Gasly, starting 15th on the grid, was the sole driver to opt for the soft tyre in the first laps of the race. Even though he moved up a few positions, he spent the whole race surrounded by DRS trains.

Tags: F1 Hollywood Wrexham Ryan Reynolds Rob McElhenney Otro Capital RedBird Capital Alpine Racing Formula One Renault Group F1 Team Sell

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