A group of investors led by Hollywood star Ryan Reynolds and RedBird Capital Partners have acquired a 24% stake in Alpine Racing Ltd, the UK-based company that operates Alpine’s Formula 1 activities. The deal is worth €200 million and values Alpine Racing Ltd at around $900 million. The investors are partnering with Otro Capital, a sports-focused investment firm.
The investment will help Alpine Racing Ltd to pursue its growth strategy and sporting goals in Formula 1, where it finished fourth in the 2022 F1 World Championship. The investors will also leverage their skills and experience in sports, media, data, and technology to create new opportunities for value and growth for Alpine.
Alpine Racing Ltd is the rebranded name of Renault’s Formula 1 team, which changed its name in 2021 to promote Renault Group’s Alpine sports car business and its move toward electrification. Alpine is also developing a full range of models following the Alpine A110 sports coupe.
The investors have a proven track record of building successful businesses with renowned partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC. Reynolds and his co-investors also include Michael B. Jordan and Wrexham AFC Co-Chairman Rob McElhenney.
Alec Scheiner, Co-Founder and Partner of Otro Capital, will join Alpine Racing Ltd’s Board of Directors. Alpine Racing SAS, the company that manufactures F1 engines in Viry-Châtillon, France, is not part of the transaction and will remain fully owned by Renault Group.