Ryan Reynolds and a group of investors announced Monday that they have invested €200 million (approximately CA$287 million) in the Alpine Formula One team.
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The Canadian-American actor and his partners had unsuccessfully tried to buy the Ottawa Senators ice hockey team a few weeks ago.
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“The group consists of Otro Capital, RedBird Capital Partners and Maximum Effort Investments [dirigée par Reynolds] acquired 24% of the shares of the French team Alpine, increasing its value to over 900 million euros [1,3 milliard $ CAN] », Tells us the official website of Formula 1.
involvement in sports
Other investors include the names of actors Michael B. Jordan and Rob McElhenney.
RedBird Capital Partners has a strong presence in professional sports. It not only owns the soccer teams AC Milan and Toulouse, two top division clubs in Europe, but also has interests in the baseball teams New York Yankees and Boston Red Sox, Dallas Cowboys (NFL) and Pittsburgh Penguins (NHL).
Alec Scheiner, co-founder and partner at Otro Capital, will join the board of Alpine, a subsidiary of French automaker Renault.
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An important step
“This alliance is an important step in the development of our performance at all levels,” said Laurent Rossi, President of Alpine. This additional revenue, which will be reinvested in our organization, will accelerate our growth plan, which aims to compete with the leading teams in Formula 1.”
Last year, Alpine finished fourth in the F1 Constructors’ Championship and sits fifth after the first eight events in 2023. His drivers Esteban Ocon and Pierre Gaslyer are ninth and tenth in the overall standings.
The team made it onto the podium once this year when Ocon finished third at last month’s Monaco Grand Prix.