Alpine F1 secures 200m euro from investors including Ryan Reynolds
On Monday Alpine’s parent group Renault announced it has sold the shares, valuing the team at $900m, to an investment group including Otro Capital, RedBird Capital Partners and Maximum Effort Investments.
US investment firm RedBird’s portfolio includes the third-largest stake in Fenway Sports Group, a group which owns the MLB team Boston Red Sox and Premier League club Liverpool FC. It also holds a stake in football clubs AC Milan and Toulouse.
Maximum Effort Investments is led by actors Ryan Reynolds and Rob McElhenney, who also own Wrexham FC, with fellow actor Michael B Jordan joining as a co-investor.
Otro Capital’s co-founder Alec Scheiner will join the Enstone squad’s Board of Directors.
In its announcement Renault said Alpine would “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.
“The investor group has a strong track record of company-building with recognized partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC.
“Alpine F1 team will also benefit from the Investor Group’s expertise in data and technology, key enablers of marketing and commercial performance.”
Esteban Ocon, Alpine F1 Team celebrates his third position with Pierre Gasly, Alpine F1 Team, Laurent Rossi, Alpine Chief Executive Officer and the team
Photo by: Alpine
Alpine CEO Laurent Rossi welcomed the investment as the team, which finished fourth last year, aims to fight for the F1 world championship within the next couple of years.
“This association is an important step to enhance our performance at all levels,” Rossi said.
“First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized 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.”
Renault stressed the investment only involved the F1 team based in Enstone, not its engine operation in Viry-Chatillon.