Calay News
A statement from Renault, the parent company of the French Formula 1 team Alpine Racing, reported that a group of US investors has acquired 24% of the shares for a total of 200 million euros (US$218 million). This consortium, which includes prominent Hollywood actors such as Ryan Reynolds, Rob McElhenney, and Michael B. Jordan, revalues Alpine Racing at $900 million and will provide a financial injection that will boost the team’s growth and sporting ambitions.
The US investor group is comprised of partners who already have a strong presence in the sports world. RedBird Capital owns soccer clubs such as AC Milan and Toulouse FC and also has stakes in the New York Yankees (baseball) and Dallas Cowboys (American soccer). Fenway Sports Group owns the Boston Red Sox (baseball), the Pittsburgh Penguins (ice hockey), and Liverpool of the Premier League. Maximum Effort Investments, which includes Ryan Reynolds and Rob McElhenney, owns Wrexham AFC, a modest Welsh club that has just been promoted to the fourth tier of English soccer. Michael B. Jordan owns a stake in Bournemouth.
Renault noted that the Alpine F1 Team will benefit from the investors’ knowledge and experience in the sports industry, especially in areas such as media, sponsorship, and ticketing.
Alpine Racing, which placed fourth in last season’s constructors’ championship, currently sits in fifth place thanks to its French drivers, Esteban Ocon and Pierre Gasly.
