A group of U.S. investors paid $218 million for 24 percent of Alpine Racing's shares on Monday, auto giant Renault, the parent company of the French Formula 1 team, said in a statement Monday.
The entry of the American consortium, which includes Hollywood stars such as Ryan Reynolds, Rob McElhenney and Michael B. Jordan, revalues the French team up to 900 million dollars and will mean an economic injection that "will accelerate the growth and sporting ambitions" of Alpine.
The American consortium is made up of partners who are already heavily involved in the sport: Red Bird Capital owns soccer clubs such as Milan in Italy and Toulouse in France, and has stakes in the New York Yankees of Major League Baseball (MLB) and the Dallas Cowboys of the National Football League (NFL).
The Alpine of 'Esteban Ocon. Photo: AFP
Fenway Sports Group owns the Boston Red Sox (baseball), the Pittsburgh Penguins (ice hockey) and Liverpool, of the Premier League of soccer.
Finally, Maximum Effort Investments, of which Reynolds and McElhenney are part, owns Wrexham AFC, a modest Welsh club that has just ascended to the fourth category of English football and was popularized by a documentary series called "Welcome to Wrexham", which tells its story on a streaming platform.
These two Hollywood stars paid 2.5 million dollars to take the reins of the British club. And not only did they recover the initial investment, but they multiplied the income through commercial agreements that monetize on different platforms and social networks.
Michael B Jordan, another of the stars who puts money into the sport. Photo: AP
Michael B. Jordan, known for his roles in Black Panther and Apollo Creed and who has nothing to do with the basketball star who bears the same first name and surname, owns shares of Bournemouth, which plays in the Premier League. He is also a co-investor in Maximum Effort Investments.
The official statement
"Alpine F1 Team will benefit from the knowledge and experience (of investors) in the sports industry, especially in the fields of media, sponsorship, box office," Renault said in its statement signed by its CEO, Laurent Rossi.
"This partnership is an important step in improving our performance at all levels. First, Otro Capital, Red Bird Capital Partners and Maximum Effort Investments, as well as international players with a strong track record in the sports industry, will bring their recognized expertise to drive our media and marketing strategy, essential to support our long-term sports performance," added Rossi.
The Alpine by Pierre Gasly. Photo: EFE
He continued: "Secondly, the incremental revenue generated will in turn be reinvested in the equipment, in order to further accelerate our 'Alpinista' plan, aimed at catching up with the best teams in terms of state-of-the-art facilities and equipment."
Fourth in the Constructors' World Championship last season, Alpine currently occupies fifth place thanks to its drivers, the Frenchmen Esteban Ocon and Pierre Gasly, although far from the unreachable Red Bull and the escorts Mercedes, Aston Martin and Ferrari.
Source: AFP
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