After taking over the Welsh club Wrexham, Ryan Reynolds and Rob McElhenney invested in the Alpine Formula 1 team, along with fellow Hollywood actor Michael B. Jordan.
Alpine is not going through a great moment in the Formula 1 season. After losing Fernando Alonso, who today runs for Aston Martin, the French team has only one podium finish so far this year, by Esteban Ocon in Monaco , and is fifth in the constructors’ championship, one place lower than the one it occupied in 2022. Ocon and his compatriot Pierre Gasly are 9th and 10th respectively in the drivers’ championship, far behind the Red Bull riders and Alonso himself , reason that led the authorities of the team to seek external investment.
This injection of money came through a somewhat unexpected route. On Monday, Alpine confirmed that 24% of its stock was acquired by an investor group that includes three Hollywood actors: Ryan Reynolds, Rob McElhenney and Michael B. Jordan. All are part of the Maximum Effort Investments capital, led by Reynolds, and will be added to the investments made by RedBird Capital Partners and Other Capital. The total figure would be 218 million dollars for that 24% of the company that is part of the Renault group, and as a consequence the value of the team would exceed 900 million.
Esteban Ocon is ninth in the Formula 1 Drivers’ Championship and Alpine is fifth; in 2022 they finished eighth and fourth, respectively. – Credits: @GIUSEPPE CACACE
The news was confirmed on Alpine’s official channels, which sent a comprehensive statement on its website announcing that the goal is to “accelerate Alpine’s growth plans and sporting ambitions in F. 1.” And he highlighted the role of the investment group to help the team in terms of media, sponsorship, ticket sales, hospitality, commercial rights management, licensing and merchandising strategies, with all of which will be able to “unlock incremental value creation and new growth goals.
All the partners that are part of this operation have one thing in common: extensive experience in sports business. Mainly soccer. Reynolds and McElhenney’s involvement in the purchase of Wrexham, a Welsh club that competed in England’s fifth tier, received considerable media attention, culminating in their promotion to professional football in their first year in charge, as well as the production of the documentary Welcome to Wrexham for Disney+, which chronicled the steps the two actors took to adapt to the world of British football.
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Michael B. Jordan also invested in Alpine, after partially assuming control of Bournemouth, Premier League club. – Credits: @Ashley Landis
Jordan, for his part, became a minority owner of another English club, Bournemouth, in December 2022. The cherries will compete next season in the Premier League after a comfortable salvation in the last year, with the Argentine Marcos Senesi as an important part of the team. RedBird Capital Partners, another of those involved in the investment in Alpine, also controls the giant AC Milanof the Italian Serie A, already Toulouse, of the French Ligue 1, in addition to being a partner of the Fenway Sports Group, another consortium that owns several sports franchises. The contribution of Otro Capital is led by its co-founder Alec Scheiner, who was president of Cleveland Browns and vice president of Dallas Cowboysboth from the NFL, and will have a place on the board of directors of the French team.
“We are very excited about the opportunity to invest in Alpine F1. We believe in the stewardship of the company, the value of the brand and the long-term trajectory of the sport,” Scheiner said. “We believe that, with our partners RedBird and Maximum Effort Investments, we can add value to Alpine’s business operations and brand growth, particularly in North America,” he added.
Rob McElhenney and Ryan Reynolds, owners of Wrexham AFC, won promotion to the English fourth division in their first year in charge of the team
Reynolds is an actor with a long history in Hollywood, best known for having played the anti-hero Deadpool in multiple films, while Jordan rose to fame for his roles in the Black Panther and Creed franchises. McElhenney, on the other hand, spent most of his television career in one of the starring roles in the sitcom It’s always sunny In Philadelphia, which recently premiered its sixteenth season.
2023-06-27 20:55:12
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