Alpine F1 Team Secures Funding From Investor Group Backed by Ryan Reynolds and Rob McElhenney
Reynolds and McElhenney are also the co-owners of Welsh football club Wrexham AFC.
Advertisement
Written by Ali Pardiwala, Edited by David Delima | Updated: 27 June 2023 15:51 IST
Highlights
Alpine F1 team is backed by the Renault Group
The investor group is also involved with other sports teams
he deal covers only the F1 team, and not the engine supplier
French carmaker Renault remains the majority owner and operator of the Alpine F1 team
Photo Credit: Netflix
Alpine F1 team has secured a cash investment of EUR 200 million (approximately Rs. 1,800 crore) from a group of investors, which includes actors Ryan Reynolds (Deadpool) and Rob McElhenney (It's Always Sunny in Philadelphia). The group, comprising of Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, has acquired a stake of 24 percent in the Alpine F1 team, which as per Alpine, values the Formula 1 team majority-owned by the Renault Group at EUR 900 million (approximately Rs. 8,060 crore).
The investment is said to be only related to the Formula 1 team, while Renault's engine division - which supplies engines for the F1 team - is not a part of the deal and will remain under the control of Renault. The France-based Renault Group remains the majority owner and operator of the Alpine F1 team, named after its niche Alpine sports car brand which currently has only one car model in production — the Alpine A110.
Alpine will hope to capitalise on the star power, as well as the media and marketing capabilities of the investor group, particularly Ryan Reynolds who has acted in films such as Deadpool, Red Notice, and Free Guy. The investor group has also worked closely with NFL team Dallas Cowboys, French football club Toulouse FC, and Welsh football club Wrexham AFC.
Reynolds and McElhenney are also the co-owners of Wrexham AFC, a Welsh football club which has recently seen considerable success both on and off the football field, thanks to the investment and attention that has come through its celebrity owners.
The acquisition of Wrexham AFC and subsequent turnaround has been featured in docu-series Welcome to Wrexham, which is credited for much of the success of the football club which recently earned promotion to the English Football League system (EFL League Two) after 15 years in the lower semi-professional National League. The series prominently features both Reynolds and McElhenney, and it's likely that Alpine F1 will utilise the actors in a similar capacity for marketing.
Alpine is currently placed at fifth in the Constructors' Championship for the 2023 F1 season, one below where it finished in 2022. The team has struggled for competitiveness against the top teams, although driver Esteban Ocon did secure a surprising but well-earned third place finish at the Monaco Grand Prix this season.
Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Senna Netflix Series: Release Date, Trailer, Cast, and Plot of F1 Legend’s Story31 October 2024
Search
![Gadgets 360 With Technical Guruji: Ask TG [ March 22, 2025]](https://c.ndtvimg.com/2024-12/5s52e4k_-ask-tg_640x480_14_December_24.jpg?downsize=180:*)
