The BWT Alpine F1 Team has secured a lucrative investment for their equity.
An investor group that includes RedBird Capital, Ryan Reynolds, Rob McElhenney & Michael B. Jordan has purchased a stake in the Alpine Formula 1 team.
— Joe Pompliano (@JoePompliano) June 26, 2023
• 24% stake
• $218 million invested
The deal values Alpine's F1 team at $900 million.
And it brings (more) star power to F1. pic.twitter.com/mpK2VEVhvr
A group of investors consisting of Otro Capital, RedBird Capital Partners, and Maximum Effort Investments is purchasing nearly a quarter of the France-based outfit, valued at $218 million. They are acquiring a 24% stake in the team, placing its overall value at nearly a billion dollars.
The investment is limited to the Alpine F1 Team, not the eponymous luxury car brand under French car manufacturer Renault.
The team is currently fifth in the Constructors' title standings, and they last won a race during the 2021 Hungarian Grand Prix when Esteban Ocon came out on top of a chaotic afternoon in Budapest.
They finished fourth in the Constructors' title race in 2022, behind powerhouses Red Bull, Ferrari, and Mercedes.
Read more: Mercedes Boss Toto Wolff Thankful For Mick Schumacher's Contributions
Hollywood Stars Included in Alpine Investor Group
Some of the biggest names in Hollywood are part of the group investing in Alpine.
Movie star Ryan Reynolds owns Maximum Effort Investments, one of the groups involved in the purchase. Michael B. Jordan and Rob McElhenney are also part of the investment.
Reynolds and MeElhaney previously bought the English football club Wrexham AFC in 2020.
Meanwhile, RedBird Capital Partners invested in sports holding conglomerate Fenway Sports Group in 2021, which owns Premier League side Liverpool and Major League Baseball team Boston Red Sox. NBA superstar LeBron James is also part of FSG ownership.
RedBird also purchased stakes in the NFL's Dallas Cowboys and French Ligue 1 club Toulouse FC. They took over Italian football giants AC Milan for $1.2 billion last year.
Related Article: Stephen Curry, A24 To Release Documentary On Apple TV
© Copyright 2024 Sports World News, All rights reserved. Do not reproduce without permission.
