Alpine, the French operation in Formula 1, has successfully secured a substantial cash injection of €200 million from a group of investors, with Hollywood actor Ryan Reynolds among them. The investment aims to bolster Alpine’s sporting aspirations and propel them closer to the leading teams in the constructors’ championship.
Currently positioned fifth in the championship, one place lower than their previous season’s finish, Alpine has been actively seeking financial support to bridge the gap in performance. The Investor Group, consisting of Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, has acquired a significant 24% stake in the Formula 1 team, valuing Alpine at approximately €900 million, as confirmed by the team. Enhance your F1 viewing experience with attractive betting odds from Nextbet.
Renowned for their involvement with prestigious sporting entities such as the NFL’s Dallas Cowboys, the National Football League (NFL) itself, French football club Toulouse FC, and English football team Wrexham AFC, the Investor Group brings a wealth of expertise to Alpine.
Ryan Reynolds, who purchased Wrexham in November 2020 alongside fellow actor Rob McElhenney, has witnessed the club’s remarkable revival, culminating in their promotion back to the English Football League after a 15-year absence.
Renault Group CEO Luca de Meo emphasized the strategic importance of Formula 1 and Alpine, stating, “Over the past two years, we have revitalized Alpine by capitalizing on its iconic A110 sports coupe and venturing into Formula 1, where our goal is to compete for championships. This partnership will accelerate the development of Alpine F1 by diversifying revenue streams and enhancing brand value.”
Alpine CEO Laurent Rossi further emphasized the significance of the partnership, highlighting the impact on their overall performance. Rossi stated, “Firstly, Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, renowned international players with a proven track record in the sports industry, will contribute their expertise to bolster our media and marketing strategy, crucial for long-term sporting success. Secondly, the additional revenue generated will be reinvested in the team to expedite our Mountain Climber plan, aimed at bridging the gap with top-tier teams in terms of cutting-edge facilities and equipment.”
It is essential to note that the investment solely pertains to the Formula 1 team, with Renault’s engine division in Viry remaining under the complete ownership of the Renault Group.
This development comes as part of a broader announcement from Alpine, which outlines their ambitious targets of achieving €8 billion in revenue by 2030 and breaking even in 2026.
While the Formula 1 team remains a vital aspect of Alpine’s operations, the automotive division is also gearing up to establish its own high-performance platform for future 100% electric sports cars. With plans for a seven-model range, including a future roadster and the highly anticipated all-new A310, Alpine is poised to make significant strides in both the racing and automotive realms. Get the latest updates from the world of F1 only on Nextbet Sports.