Wrexham owners Ryan Reynolds and Rob McElhenney will be part of an investor group taking a 24 percent stake in Formula 1 racing team Alpine.
The F1 team’s parent company Renault confirmed that Reynolds and McElhenney will join Otro Capital and RedBird Capital Partners in acquiring a stake.
The $218m (£171m) deal values UK-based Alpine Racing at around $900m (£707m).
Laurent Rossi, CEO of Alpine, said: “This connection is an important step towards improving our performance at all levels.
“Otro Capital, RedBird Capital Partners and Maximum Effort Investments, international players with strong track records in the sports industry, will bring their recognized expertise to drive our media and marketing strategy, which is essential to the long-term support of our sporting performance.”
“In turn, the additional revenue generated will be reinvested back into the team to further advance our Mountain Climber plan, which aims to match the top teams in state-of-the-art facilities and equipment.”
Reynolds and McElhenney completed the full takeover of Wrexham in 2021 and the Welsh club were promoted back to the English Football League (EFL) last season after a 15-year absence.
The US investment firm RedBird is an investor in Fenway Sports Group, owner of Premier League club Liverpool and baseball team Boston Red Sox.
Redbird also bought Italian club AC Milan for €1.2bn in August 2022 and holds a majority stake in French club Toulouse.
After eight of 22 races, Alpine is currently fifth in the F1 Constructors’ Championship.
How big is the deal for Alpine?
Analysis by Luke Smith
When Renault renamed its F1 team Alpine in 2021, the company set out a 100-race plan to become F1 leaders by 2025.
With the exception of Esteban Ocon’s surprise win in Hungary in 2021, Alpine has struggled to compete regularly with Formula 1 frontrunners like Red Bull and Mercedes, whose superior assets are reflected in better car design. This investment will help Alpine bridge this gap.
It will also bring some more star power to Alpine. Ryan Reynolds and Rob McElhenney have worked wonders with Wrexham and captured the attention of the entire sporting world.
While this may only be a 24 per cent share, this connection and contribution can only be beneficial to Alpine and potentially give it a wider reach outside of the regular F1 fan base.
GO DEEPER
F1 Drivers’ Championship, Canadian GP Edition: Albon steals the show from the champions
(Photo: Martin Rickett/PA Images via Getty Images)