Alpine sells shares of the team
Alpine sells 24% of its team to an American investment fund specializing in sports. Actor Ryan Reynolds is among them.
The French racing team BWT Alpine F1 Team has just sold 24% of its shares for 200 million euros. American investors are acquiring a portion of Alpine Racing’s subsidiary, as announced by the Renault Group this morning.
The investment fund comprising Otro Capital, RedBird Capital Partners, and Maximum Effort Investments would enable the French team to be valued at 900 million euros. The various companies in the investment fund are already highly established in the world of sports.
Red Bird also owns shares in Fenway Sports, which is a shareholder of the Boston Red Sox in baseball. In football, Red Bird partly owns Liverpool FC, AC Milan, and Toulouse FC.
On their end, Maximum effort investment is led by actors Ryan Reynolds and Rob McElhenney who own the Wrexham AFC football club.
« Alpine will benefit from the expertise and experience of the investor group in the sports industry, particularly in areas such as media, sponsorship, ticketing, hospitality, licensing, and merchandising strategy to create new growth opportunities and generate added value. The Formula 1 team will also benefit from the investor group’s expertise in data and technology, which are key factors in marketing and commercial performance, Renault announced in its press release.
On his side, the CEO of Alpine, Laurent Rossi, is pleased with the arrival of the investment fund in the team: « This alliance is an important step for the development of our performance at all levels. […] With the additional revenues reinvested in the team, we will further accelerate our growth plan, aiming to compete with the top teams with state-of-the-art facilities and equipment. »
The engine part of Renault is not included in the transaction and remains fully owned by the group.
