A group of American investors has paid 200 million euros to take a 24% stake in the French Formula 1 team Alpine, said Renault, parent company of Alpine, in a press release on Monday.
“Renault Group and Alpine welcome the group of investors made up of Otro Capital and its partners, RedBird Capital Partners and Maximum Effort Investments to the capital of Alpine Racing Ltd, the entity in charge of Formula 1 activities based in Enstone”, in the United Kingdom, writes the French manufacturer.
“The transaction values Alpine Racing Ltd at approximately $900 million following an investment that will accelerate Alpine’s growth strategy and sporting ambitions in Formula 1,” Renault said.
Investors are already very involved in sport since RedBird Capital owns the football clubs of AC Milan (Italian D1) and Toulouse FC (French D1) and notably holds stakes in the capital of the New York Yankees (baseball) , the Dallas Cowboys (American football) and in the Fenway Sports Group, which owns the Boston Red Sox (baseball), the Pittsburgh Penguins (ice hockey) and the English football club Liverpool.
Maximum Effort Investments is run by actors Ryan Reynolds and Rob McElhenney, who also own the Welsh football club Wrexham AFC, which has just been promoted to English D4.
“Alpine F1 Team will benefit from (the investors’) expertise and experience in the sports industry, particularly in the areas of media, sponsorship, ticketing, hospitality, licensing and merchandising strategy. “, but also” in terms of data and technology, key factors of marketing and commercial performance”, writes Renault.
Alpine had finished fourth in the constructors’ world championship in F1 in 2022. It currently sits in fifth place a third of the 2023 season, with its two French drivers, Esteban Ocon and Pierre Gasly.
“This alliance is an important step for the development of our performance at all levels”, rejoiced the CEO of Alpine, Laurent Rossi, evoking the “ambition” to “compete with the best teams”.
Renault also clarified that this investment concerned exclusively the activities based in Enstone (United Kingdom), and not the engine department located in Viry-Chatillon (France), which will remain entirely owned by the French manufacturer.
