Alpine F1 receive over €200 million from investors including Ryan Reynolds
F1 News
- Cas van de Kleut
Alpine wants to make strides in terms of development. CEO Laurent Rossi complained at the beginning of this Formula 1 season about the inferior development. Now it is clear that the French team is going to make a move: in a press release from the racing stable, Alpine reports that there are three investment parties who are together investing over 200 million euros in the team of Pierre Gasly and Esteban Ocon.
Who are the investors?
They are Otro Capital, RedBird Capital Partners and Maximum Efforts (all three are part of 'the Investor Group'). Together, they are buying 24% of the shares within the team. The investments are being made to support Alpine in its growth process and sporting ambitions.
Several celebrities are involved in the investment: for instance, Maximum Efforts is led by actor Ryan Reynolds. His party also includes Michael B. Jordan and co-chairman of football club Wrexham AFC Rob McElhenney. There will also be changes within Alpine itself: Alec Scheiner, co-founder of Otro Capital, will join the French team's board of directors.
The Investment is incredibly important for the French team, CEO Rossi also confirmed on the race stable's media site: "This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term. Second, 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."