Alpine secures €200m backing from investors including Ryan Reynolds
Alpine have secured a €200m backing from investors including Hollywood actors Ryan Reynolds and Rob McElhenney who are set to join an investor group taking a 24 per cent equity stake in the French car manufacturer's F1 outfit.
On Monday morning, Alpine's parent company Renault announced a €200 million investment from Otro Capital and their partner, RedBird Capital Partners, along with Maximum Effort Investments in Alpine Racing. The injection represents a 24% equity stake while Renault’s engine division in Viry will remain entirely owned by the Renault Group.
The transaction values Alpine Racing Ltd around $900 million following this investment with the team expecting the move to accelerate their growth plans and sporting ambitions in F1.
The Investor Group has a strong track record of company-building with recognized partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC. Alpine F1 team will also benefit from the Investor Group's expertise in data and technology, key enablers of marketing and commercial performance.
Alec Scheiner, Co-Founder and Partner of Otro Capital, will join Alpine Racing Ltd’s Board of Directors.
Commenting on the announcement, Alpine CEO Laurent Rossi said: “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 recognized 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.”
Co-Founder and Partner of Otro Capital Alec Scheiner added: “We are thrilled to have the opportunity to invest in Alpine F1. We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine's business operations and brand building, especially in North America.”
Co-Founder of Maximum Effort Investments James Toney commented: “Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing.
"We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney."
