, actors Ryan Reynolds and Rob McElhenney are joining an investment group taking a significant stake into Formula 1 team Alpine Racing, its parent company Renault announced Monday.
Otro Capital, RedBird Capital Partner and Maximum Effort Investments – which includes Reynolds, McElhenney and Michael B. Jordan – are getting a 24% equity stake, a deal worth approximately $218 million, Renault said in a press release. The investment will"accelerate Alpine's growth plans and sporting ambitions in F1," according to the company.
Wrexham co-owner Rob McElhenney and Ryan Reynolds celebrate with the trophy following promotion to the EFL following the Vanarama National League match at The Racecourse Ground, Wrexham. Picture date: Saturday April 22, 2023.Renault touted the investor group's"collective expertise and track record in the sports industry" and its previous relationships with the Dallas Cowboys, the Fenway Group and Wrexham.
"First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term," Rossi said.