(CNN) — Wrexham’s Hollywood owners Ryan Reynolds and Rob McElhenney are part of a new investment group that will acquire a 24 per cent stake in the Alpine Formula 1 team, the team’s parent company, Renault, announced on Monday.
The group of investors also includes Otro Capital and RedBird Capital Partners. In addition to Reynolds and McElhenney, fellow actor Michael B. Jordan is a co-investor in Maximum Effort Investments, led by the “Deadpool” star, who will bring “expertise” to the new group to boost its media and marketing strategy, according to Laurent Rossi, CEO of Alpine.
The team has announced the deal will see an injection of $218m (€200m) into the UK-based team, and the statement says Alpine is now valued at $900m.
The investment “will accelerate Alpine’s growth plans and sporting ambitions in F1,” according to the statement.
Alpine is currently fifth in this year’s F1 Constructors’ Championship.
“This association is an important step in improving our performance at all levels,” said Rossi.
“Firstly, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as well as international players with strong track record in the sports industry, will bring their renowned expertise to guide our marketing and media strategy, essential to support our sports performance at long term,” he added.
“Secondly, the incremental revenues generated will in turn be reinvested into the team, in order to further accelerate our ‘Mountaineer’ plan, aimed at bringing us on par with the best teams in terms of state-of-the-art facilities and equipment,” he added. Reds.
Alpine’s “Mountain Climber” plan calls for the team to hold championship titles within 100 races, starting in 2022.
The investor group has previous experience in the world of sports. RedBird has participated in Fenway Sports Group—owners of Liverpool of the Premier League and Boston Red Sox of Major League Baseball—, the Dallas Cowboys of the NFL, and Toulouse of French soccer. Also RedBird bought Milan last year for 1.2 billion dollars.
Reynolds and McElhenney are part owners of Welsh football club Wrexham. Since they took over the club in 2021, the club- u 8 ñi´+ í,k,k.ji´p lo ´+~~
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In addition to a hit Disney+ documentary, the club got promoted to the Football League in April, ending a 15-year tenure in non-league football.
McElhenney and Reynolds celebrate with Wrexham women’s team players during a bus parade following their title winning season. (Photo: Jan Kruger/Getty Images)
The statement said Reynolds and McElhenney’s Maximum Effort Investments will bring “successful sports and media experience and operational insights into building high-growth companies.”
