Wrexham owners Ryan Reynolds and Rob McElhenney will be part of an investor group taking a 24 per cent stake in Formula One racing team Alpine.
The F1’s team’s parent company, Renault, confirmed that Reynolds and McElhenney will join Otro Capital and RedBird Capital Partners to purchase a stake.
The $218million (£171m) deal values Alpine Racing, who are based in Great Britain, at around $900m (£707m).
Alpine CEO Laurent Rossi said: “This association is an important step to enhance our performance at all levels.
“Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.
“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.”
Reynolds and McElhenney completed a full takeover of Wrexham in 2021 and the Welsh club were promoted back to the English Football League (EFL) last season after a 15-year absence.
US investment firm RedBird is an investor in Fenway Sports Group, the owner of Premier League side Liverpool and the Boston Red Sox baseball team.
Redbird also purchased Italian club AC Milan in August 2022 for €1.2bn and have a controlling stake in French side Toulouse.
Alpine are currently fifth on the F1 constructors leaderboard after eight out of 22 races.
How much of a deal is this for Alpine?
Analysis by Luke Smith
When Renault rebranded its F1 team as Alpine in 2021, it set out a 100-race plan to become an F1 front-runner by 2025.
With the exception of Esteban Ocon’s shock victory in Hungary in 2021, Alpine has struggled to regularly compete with F1’s front-running operations, such as Red Bull and Mercedes, whose superior facilities flow through to a better car design. This investment will help Alpine bridge that gap.
It will also bring some extra star power to Alpine. Ryan Reynolds and Rob McElhenney have worked wonders with Wrexham, capturing the attention of the wider sporting world.
This may only a 24 per cent stake, but that association and input can only be a good thing for Alpine, potentially giving it a greater reach outside of F1’s regular fanbase.
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(Photo: Martin Rickett/PA Images via Getty Images)
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