F1 News: Alpine Scores Eye-Watering Investment From Hollywood Star
The Alpine F1 team has recently received a huge €200 million boost from a group of investors including Hollywood actor Ryan Reynolds.
With Alpine presently holding the fifth rank in the constructors' championship with 44 points behind Ferrari who has 122 points, the investment is set to enhance their performance.
The team-up between Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, has acquired a 24% stake in the F1 team, increasing Alpine's value to a striking €900m. The consortium boasts a solid background in sports investments, counting the NFL's Dallas Cowboys and Wrexham AFC among their ventures.
Renault Group CEO, Luca de Meo, applauded the alliance in the press release, stating:
“Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”
Meanwhile, Alpine CEO Laurent Rossi added:
“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.”
The investment, however, is specific to the F1 team and does not include Renault’s engine division. As part of a broader strategy, Alpine aims to reach €8 billion in revenue by 2030 and break even by 2026, while also focusing on developing a platform for 100% electric sports cars.