Ryan Reynolds and a group of investors announced on Monday that they have injected 200 million euros (about 287 million Canadian dollars) into the Alpine Formula 1 team.
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The Canadian-American actor and his partners had tried, in vain, to buy the Ottawa Senators hockey team a few weeks ago.
Photo credit: Getty Images via AFP
“The group formed by Otro Capital, RedBird Capital Partners and Maximum Effort Investments [dirigée par Reynolds] acquired 24% of the shares of the French team Alpine, which raises its value to more than 900 million euros [1,3 milliard $ CAN] », Tells us the official website of Formula 1.
Involvement in sports
Other investors also include the names of actors Michael B. Jordan and Rob McElhenney.
RedBird Capital Partners has a strong presence in professional sports. It not only owns the AC Milan and Toulouse soccer teams, two first division clubs in Europe, but it also owns stakes in the New York Yankees and Boston Red Sox baseball teams, the Dallas Cowboys ( NFL) and Pittsburgh Penguins (NHL).
Alec Scheiner, co-founder and partner of Otro Capital, will join the board of Alpine, which is a subsidiary of French automaker Renault.
Photo credit: Getty Images via AFP
An important step
“This alliance is an important step for the development of our performance at all levels, said Laurent Rossi, president of Alpine. These additional revenues reinvested within our organization will accelerate our growth plan, the ambition of which is to compete with the leading teams in Formula 1.”
Last year, Alpine finished fourth in the F1 Constructors’ World Championship and holds fifth place after the first eight events in 2023. Its drivers, Esteban Ocon and Pierre Gaslyer, sit ninth and tenth respectively in the overall standings. .
The team have reached the podium once this year when Ocon finished third at the Monaco Grand Prix last month.
2023-06-26 15:28:20
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