French Formula 1 team Alpine has officially secured a €200 million EUR cash injection from a new group of investors. Amongst those invested is Hollywood star Ryan Reynolds and his Wrexham Football Club co-owner Rob McElhenney. Both are now a part of an investor group that takes a 24% equity stake in Alpine.
Alpine’s parent company, Renault, made the announcement earlier this week that both actors are investing alongside Otro Capital and RedBird Capital Partners. Currently, Alpine is in fifth this year. In the past, RedBird invested in Fenway Sports Group, which owns Premier League team Liverpool and the Boston Red Sox baseball team. It also bought Italian Serie A club AC Milan in August 2022, adding to its expansive sports portfolio.
The new investors announcement comes after Alpine stated its target of achieving €8 billion EUR in revenue in 2030 and to break even in 2026. Renault Group CEO Luca de Meo said on the new investors, “Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupe, 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.” The investment is said to only center around the F1 team.
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