Hollywood star Ryan Reynolds is among a group of investors who have agreed a deal to pay €200 million ($218 million) for a 24% stake in the Alpine Formula 1 motor racing team. The deal sees French …
The deal sees French manufacturer Renault and its sport car division Alpine sell a stake in Alpine Racing to an investor group headed by Otro Capital, RedBird Capital Partners, and Reynolds’ Maximum Effort Investments.
The companies said that the investment will accelerate Alpine Racing’s growth plans and sporting ambitions in F1. In the 2022 season, the company finished fourth . With an all-French diver line-up of Pierre Gasly and Esteban Ocon, Alpine currently lies fifth in the 2023 constructors’ championship. The Alpine F1 team “will 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,” Alpine said in a statement.
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