Ryan Reynolds, Rob McElhenney, Michael B. Jordan Invest in Alpine Formula One Team – The Hollywood Reporter
Hollywood star Ryan Reynolds is expanding his business interests in the sports world.
The actor’s investment firm, Maximum Effort Investments — whose other backers include actors Rob McElhenney and Michael B. Jordan — is teaming up with private equity firms RedBird Capital Partners and Otro Capital to buy 24% stake in Alpine Formula 1 Team. The partners are paying the team’s owner, the Renault Group, about 200 million euros ($218 million) for the shares, valuing the team at around $900 million.
The deal continues a previous trend of skyrocketing sports rights valuations, whether mainstream or niche, as established media companies and tech giants vie for the value of events. direct events attract viewers.
The partners say the deal will help accelerate Alpine Racing’s growth and visibility plans. Interest in Foruma 1 has skyrocketed in the US in recent years — in no small part thanks to the popularity of Netflix’s five-season documentary series Drive to surviveRecord sports both on and off the track.
Alpine is a mid-range team that has been on the rise in recent years. In the 2022 season, it ranked fourth out of ten teams. Led by French drivers Pierre Gasly and Esteban Ocon, Alpine is currently fifth in the 2023 Constructors’ Championship standings.
Alpine CEO Laurent Rossi said in a statement on Monday: “This alignment is an important step towards enhancing our performance at all levels. “Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with a strong track record in the sports industry, will bring their recognized expertise to advance their marketing and communications strategies. us, which is essential to supporting our sporting record in the long run.”
Reynolds’ first foray into sports ownership came in November 2020 when he and McElhenney teamed up to buy Welsh football club Wrexham AFC. They continue to create billable content from that experience — while enhancing their team’s profile — with a doc series Welcome to Wrexham, which is broadcast on FX. The duo undeniably helped rejuvenate the team, winning promotion back to the British Football League for the 2023 season for the first time in 15 years.
