Ryan Reynolds Invests Over $200 Million Into F1's Alpine Race Team
Ryan Reynolds is setting his sights on F1!
The 46-year-old actor, through his Maximum Effort Investments company, staked a claim in F1‘s Alpine team, according to the official F1 website.
The site says that Alpine has been “searching for investment to help close the gap to F1‘s leading teams” and they found it through Ryan and his Maximum Effort Investments company.
Keep reading to find out more…
F1 says that Ryan, Rob McElhenney, and Michael B. Jordan (who are all co-founders of the group with James Toney) teamed up with Otro Capital and RedBird Capital Partners to invest about €200 million (which is around $218 million) for a 24% stake in the Alpine Formula 1 racing team.
Alpine says that the company will “benefit from the investor group’s collective expertise and track record in the sports industry including media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies to unlock incremental value creation and new growth levers.”
With the financing, Alpine is now valued at around $900 million.
James then added about the deal, via Variety, “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.”
Alpine’s current racing team consists of Esteban Ocon and Pierre Gasly, who currently sit at #9 and #10, respectively, on the 2023 leaderboard.
This is Ryan‘s second major sporting team investment, following his and Rob‘s backing of Wrexham AFC, a move which saw the team achieve its goal of getting back into the Premier League after 15 years.
The two drivers are currently gearing up for the upcoming Austrian Grand Prix happening this weekend, July 2.