Hollywood actors Ryan Reynolds and Rob McElhenney are setting their sights on Formula One, after football.
F1 team Alpine has received a $218m investment from a consortium of investors that includes the actors, totaling €200m.
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
Renault Group, the parent company of Alpine and a French automotive company, said on Monday that it had purchased a 24% share in the team. It consists of Reynolds-led Maximum Effort Investments, RedBird Capital Partners, and Otro Capital.
“The transaction values Alpine Racing Ltd. around $900-million following this investment,” the team said in a statement.
“It will accelerate Alpine’s growth plans and sporting ambitions in F1.”
Other investors include actor Michael B. Jordan.
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Reynolds and McElhenney completed a $2.5-million takeover of Welsh soccer team Wrexham in November 2020.
The club was thrust into the global spotlight because of its A-list owners and secured promotion to the fourth tier of English soccer this season.
With drivers Pierre Gasly and Esteban Ocon, Alpine stands fifth in the constructors’ championship.
The team was fourth in the constructors’ standings last year and has been struggling in its goal to close the gap on Red Bull, Ferrari and Mercedes this season.
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