Alpine received 200 million euros from a group of investors, which includes Hollywood actor Ryan Reynolds. This was done to support the sports ambitions of the French team in Formula 1.
Alpine currently sits fifth in the Constructors’ Championship – one place lower than last campaign – and is looking for investment to close the gap on F1’s leading teams.
A group of investors that includes Otro Capital, RedBird Capital Partners and Maximum Effort Investments acquired a 24% stake in Alpine, valuing it at around €900 million.
The group has already worked with the NFL club Dallas Cowboys, the American National Football League (NFL), the French football club Toulouse FC and the Welsh football club Wrexham AFC. By the way, the Wrexham AFC team, which Ryan Reynolds bought with colleague Rob McElhenney in 2020, managed to achieve promotion to the English Football League Two for the first time in 15 years.
“Formula 1 and Alpine are strategic assets for the Renault Group,” said Renault Group CEO Luca de Meo. “Over the past two years, we have re-ignited Alpine, capitalizing 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.”
Investments are concentrated only around the Formula 1 team. Renault’s engine development division is not part of the deal and remains wholly owned by the Renault Group.