The Alpine F1 team has raised €200 million from a group of US investors that includes Hollywood actor and Wrexham Football Club owner Ryan Reynolds.
The fresh influx of cash, which will support Alpine's growth strategy and sporting ambitions, represents a 24% equity stake in the Enstone squad and values the Alpine F1 outfit at $900 million.
The investment group is comprised of Otro Capital, RedBird Capital Partners and Maximum Effort Investments.
Maximum Effort Investments is led by Reynolds who, along with Rob McElhenney, also own Wrexham FC, while fellow actor Michael B. Jordan has joined in as a co-investor in Alpine F1.
Wrexham Football Clun owns Ryan Reynolds (R) and Rob McElhenney (L). ©Twitter
US investment firm Red Bird is a major investor in Fenway Sports Group, a consortium that owns the MLB franchise Boston Red Sox and the Premier League club Liverpool FC. Additionally, RedBird holds investments in football clubs AC Milan and Toulouse.
Otro Capital's co-founder Alec Scheiner will join the Enstone squad's Board of Directors.
Alpine says its F1 team "will benefit from the Investor Group’s collective expertise and track record in the sports industry including media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies to unlock incremental value creation and new growth levers."
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Alpine Racing SAS, the entity manufacturing F1 engines in Viry-Châtillon, France, is not part of the transaction and will remain entirely owned by Renault Group.
"This association is an important step to enhance our performance at all levels," commented Alpine CEO Laurent Rossi.
"First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.
"Second, 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 currently sits fifth in Formula 1's Constructors' championship.
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