A group of US-based investors including Hollywood star Ryan Reynolds acquired a 24 per cent equity stake in Renault’s Alpine F1 team. Along with the two Wrexham Football Club owners — Reynolds and Rob McElhenney, the group also consists of movie star and Bournemouth Foot Club co-owner Michael B. Jordan, Otro Capital and RedBird Capital Partners. The investor group has injected $218 million, which will help Alpine bring about mechanical and technical upgrades to the current F1 race car.
Ryan Reynolds and Alpine F1 team: The Fine Print
According to the F1 website, the investor group has injected $218 million which will help Alpine’s ambitious plan to achieve a top-three finish. The French team finished fourth last year but is currently languishing in fifth place. Based on Alpine’s statement on its official website, after the investment, this transaction values the Alpine F1 team at around $900 million.
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Speaking on this monumental move, Luca de Meo, CEO of Renault Group, 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 coupé, 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.”
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Laurent Rossi, CEO of Alpine said that this will help the team accelerate its progress. “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,” said Rossi.
Alpine F1 team: Background
Alpine F1 Team made its debut in 2021. It’s a rebranded Renault F1 team that is owned by the French car manufacturer. The F1 team is based in Enstone, Oxfordshire, England, and the engine side of the team is based in Viry-Chatillon, France. The team’s current driver’s lineup is Esteban Ocon and Pierre Gasly.
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