Ryan Reynolds, Rob McElhenney, and Michael B. Jordan have expanded their overseas sports portfolio with a significant investment in Formula 1’s Alpine Team. The trio, along with other investors, have purchased a $220 million stake in the team, as announced by Formula 1. The investment is made through Reynolds’ Maximum Effort Investments and grants them a 24% co-ownership alongside Otro Capital and RedBird Capital. Renault, the French car company, will still retain the majority stake in the team, which is currently valued at around $917 million.
BREAKING: Hollywood actor Ryan Reynolds is part of an investor group taking a 24% equity stake in Alpine #F1 pic.twitter.com/0K2867UBOg
— Formula 1 (@F1) June 26, 2023
Reynolds and McElhenney Are Developing an Amazing Sports Portfolio
Reynolds and McElhenney have already dipped their toes into the world of sports ownership with their purchase of Welsh soccer club Wrexham AFC in 2020. Their journey with Wrexham was documented in the streaming show “Welcome to Wrexham,” showcasing their efforts to lead the club from fifth-tier mediocrity to contention for promotion. Although Wrexham narrowly missed out on promotion in their first season under Reynolds and McElhenney, they secured a move to the fourth-tier EFL League Two by winning the league championship in their second season. Their dominant performance in the National League included leading the league in spending and achieving a record-breaking 111 points with a 34-9-3 record.
This investment in Alpine F1 Team marks another venture for Reynolds and McElhenney, who previously attempted to acquire a stake in the NHL’s Ottawa Senators. However, the Ottawa Senators were sold to another party for nearly $1 billion earlier this month. Michael B. Jordan also has experience in British soccer as he owns a stake in the Premier League club Bournemouth.
Who is Alpine F1?
Alpine F1 Team, formerly known as Renault has a history of success in Formula 1, winning championships in 2005 and 2006. However, in recent years, the team has settled into the middle of the table and underwent a rebranding from Renault to Alpine. Despite not achieving top positions in the Constructors’ Championship since 2016, Alpine consistently finishes between fourth and sixth place. The team has had notable drivers such as Fernando Alonso, who previously won the Drivers’ Championship with Renault, Daniel Ricciardo, Nico Hülkenberg, Carlos Sainz, and Jolyon Palmer. Alpine’s history in Formula 1 date back to 1977, and Renault has also achieved success as an engine supplier.
Currently, Esteban Ocon and Pierre Gasly are the team’s drivers. They are closely ranked in the drivers’ standings, with Ocon in eighth place with 29 points and Gasly in ninth place with 15 points. In the Constructors’ standings, Alpine currently sits in fifth place. Ocon’s third-place finish at the Monaco Grand Prix is the team’s sole podium result so far this season.
With their investment in Alpine F1 Team, Reynolds, McElhenney, and Jordan venture into a different realm of sports ownership, navigating the competitive and high-profile world of Formula 1 racing.
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