Key takeaways:
- Ryan Reynolds and Rob McElhenney have joined an investment group taking a 24% stake in Formula 1 team Alpine Racing, worth approximately $218 million.
- The investment values Alpine Racing Ltd. around $900 million following this investment.
- Reynolds and McElhenney have made a name for themselves as successful investors in the sports world and their latest investment in Alpine Racing is sure to be a success.
Actors Ryan Reynolds and Rob McElhenney have joined an investment group taking a significant stake in Formula 1 team Alpine Racing, its parent company Renault announced Monday. The French automotive company said the group has acquired a 24% stake in the team, worth approximately $218 million.
The investment group includes Otro Capital, RedBird Capital Partner and Maximum Effort Investments, which includes Reynolds, McElhenney and Michael B. Jordan. The transaction values Alpine Racing Ltd. around $900 million following this investment, according to the team.
This investment comes just months after Reynolds and McElhenney completed a $2.5 million takeover of Welsh soccer team Wrexham. The two actors have now set their sights on Formula 1, with Renault Group saying the investment will “accelerate Alpine’s growth plans and sporting ambitions in F1.”
Alpine Racing is a French Formula 1 team that was founded in 2020. The team is currently competing in the 2021 Formula 1 World Championship, with drivers Fernando Alonso and Esteban Ocon.
Reynolds and McElhenney have made a name for themselves as successful investors in the sports world. Their latest investment in Alpine Racing is sure to be a success, as the team looks to build on its early success and become a major player in the Formula 1 world.
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