The Renault Group has announced that the Alpine F1 team’s development has been sped up after being able to attract ‘world-class’ investors in a deal worth £171million.
Otro Capital, RedBird Capital Partners and Maximum Effort Investments have all been officially welcomed by Renault after the investment group purchased a 24% stake in the Alpine F1 team.
Following this significant investment, Alpine Racing Ltd is now valued in the region of £700m.
There are some very familiar names involved in the investment, with Hollywood actor Ryan Reynolds spearheading the Maximum Effort Investments part of the deal and is joined by ‘It’s Always Sunny in Philadelphia’ star Rob McElhenney, the duo joining forces once more after buying Welsh football club Wrexham in 2020.
Another Hollywood actor in the form of Michael B. Jordan has also invested alongside Reynolds and McElhenney.
Luca de Meo, CEO of Renault Group, said upon the announcement: “Formula 1 and Alpine are strategic assets for Renault Group.
“Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender.
“This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”
Laurent Rossi, CEO of Alpine, said in his statement that his eyes are firmly locked on the top of the F1 field following the investment.
“This association is an important step to enhance our performance at all levels,” he said.
“First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised 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.”
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Alec Scheiner, co-founder and partner of Otro Capital, will joined the Alpine Racing Ltd’s board of investments.
“We are thrilled to have the opportunity to invest in Alpine F1,” he added.
“We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport.
“We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine’s business operations and brand building, especially in North America.”
Alpine has also confirmed that 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.’
More details on Alpine’s strategy and future vision following this investment will come to light on Monday afternoon at Alpine’s Future Tour event.