Wrexham owners and Hollywood duo Ryan Reynolds and Rob McElhenney have taken a step into the world of F1 as part of an investment group buying a 24 per cent equity stake in Alpine. The F1 team’s parent company, Renault, announced the news on Monday with the £171million (€200m) deal valuing Alpine at £706m.
Reynolds and McElhenney teamed up with investment groups Otro Capital and RedBird Capital Partners to buy into the F1 team.
The Hollywood actors took over Wrexham football club back in 2020 and helped lead them to promotion back into the Football League for the first time in 15 years.
They’re also joined by fellow American actor Michael B. Jordan as part of Reynolds’ ‘Maximum Effort Investments’ group who have bought the stake in Alpine.
Otro Capital co-founder and partner Alec Sheiner will join Alpine’s board of directors as part of the deal.
Alpine CEO Laurent Rossi hopes the new investment into the team can further aid their plans to catch up with the leading constructors in F1.
“This association is an important step to enhance our performance at all levels,” he said.
“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.
“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.”
Alpine’s ‘Mountain Climber’ plan is a target to be competing for a championship in 100 races, starting from the 2022 season.
That would see Alpine hoping to fighting at the front of the grid by the 2025 season.
The UK-based team currently sit fifth in this year’s Constructors’ Championship but have already shown their potential at times.
Esteban Ocon picked up the team’s first podium in roughly 18 months at this year’s Monaco Grand Prix.
They’ve had mixed success since then with Red Bull, Aston Martin, Mercedes and Ferrari ahead of them in their development.
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