Alpine F1 team The booming world of Formula 1 has always been as much about the glamour and the star power as the technology and the racing.Renault, the parent company of Alpine Racing, announced on June 26 that the trio is part of Maximum Effort Investments and will join Otro Capital and RedBird Capital Partners in an investor group that will take a 24 percent equity stake in Alpine Racing., and it increases the value of the United Kingdom-based Formula 1 team to around $900 million.
Alpine Racing features drivers Pierre Gasly and Esteban Ocon and is currently fifth in the constructor’s championship. The team was fourth in the constructors’ championship last year but trails behind in its goal to close in on Red Bull, Ferrari, and Mercedes in 2023.... [+]Anadolu Agency via Getty Images
“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.” According to Renault, Otro and RedBird’s investment includes the Huntsman Family and Main Street Advisors. RedBird is a United States firm that is run by former Goldman Sachs banker Gerry Cardinale. It is also an investor in Fenway Sports Group, the owner of Liverpool in the PremierRedBird has a controlling interest in French Club Toulouse and purchased Italy’s AC Milan in August 2022 in a deal worth €1.
"The incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment." As COVID restrictions eased and the world reopened, the biggest boom in interest in the Formula 1 World Championship was in the United States.... [+]