The owners of the Wrexham footballer club, Ryan Reynolds and Rob McElhenney, have expanded their investment portfolio by acquiring a 24% equity stake in the Formula 1 team Alpine. Renault, Alpine’s parent company, announced the news, and they revealed that the Hollywood actors would be joining forces with investment firms Otro Capital and RedBird Capital Partners.
With a valuation of approximately £706 million, the 200 million euros (£171 million) deal solidifies Alpine Racing’s position in the British motorsport industry. Alpine is currently placed fifth in this year’s F1 constructors’ championship.
The deal of Wrexham FC owners with RedBird Capital
The Wrexham FC owners, i.e., Ryan Reynolds and McElhenney, completed their takeover of Wrexham Football Club in 2021 and will be joined by US investment firm RedBird Capital. Notably, RedBird Capital holds stakes in prestigious sports entities like Fenway Sports Group, the owner of Premier League side Liverpool and the Boston Red Sox baseball team.
RedBird Capital will headline in August 2022 when it acquired AC Milan from Serie A with a humongous deal of 1.2 billion euros. In addition to that, the firm has a controlling stake in French Ligue 1 side Toulouse.
The CEO of Alpine in this regard
The CEO of Alpine, Laurent Rossi, expressed his excitement about the collaboration between the two parties. He said that it represents a significant milestone in the team’s growth. He emphasized that the investment from Reynolds, McElhenney, and the other partners would contribute to enhancing Alpine’s performance.
He also said that the association is an important step to enhance their performance at all levels. The RedBird Capital and Otro Capital partners, as well as the Meximum Efforts Investments, as international players with strong track records 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.
The CEO further stated that the incremental revenue which will be generated will be, in turn, reinvested in the team for accelerating their Mountain Climber plan. With this statement he primarily aimed at catching up with the top teams in terms of state-of-the-art facilities and equipment.
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