A consortium of investors, including Hollywood stars, has acquired a 24% stake in Alpine’s team. The deal amounted to 200 million euros, which the team will spend to support its development strategy and achieve sports results.
The interest in the teams has been taken over by a consortium including Otro Capital, Red Bird Capital Partners and Maximum Effort Investments.
Otro Capital is a private equity firm specialized in sports, media, games and entertainment. Her specialization is the acquisition of promising, but relatively cheap assets with high growth potential. Typically, Otro Capital acquires assets in partnership with Red Bird Capital, a private equity firm.
Maximum Effort Investments is a fund managed by actor Ryan Reynolds, best known for his role as Deadpool in the Marvel Cinematic Universe film of the same name, along with co-investors and fellow Hollywood stars Rob McElhenney (It’s Always Sunny in Philadelphia) and Michael B Jordan (Black Panther).
Reynolds and McElhenney are also co-owners of Welsh football club Wrexham. The duo played a key role in taking the club back to the English Fourth Division for the first time since 2008 this season.
Alpine said in a statement that the consortium’s collective experience and track record in the sports industry, including press, sponsorship, ticketing, commercial rights management, licensing and merchandising strategies, “will provide opportunities for value creation and new growth opportunities.”
Alec Shiner, Co-Founder and Partner of Otro Capital, will join the Alpine Racing Ltd Board of Directors.
The deal does not include Alpine Racing SAS, which produces power plants for the Formula 1 team in Viry, France. The company remained wholly owned by the Renault Group.
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Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
