Ryan Reynolds is betting bigger on sports: The Hollywood star is part of an investor group snapping up 24% of the Alpine F1 team
- Ryan Reynolds is expanding his sports portfolio as he joins a group of investors buying a 24% stake in F1 team Alpine.
- The $218 million deal also includes fellow Hollywood actors Rob McElhenny and Michael B. Jordan.
Hollywood star Ryan Reynolds has joined a group of international investors that's buying a 24% stake in the UK-based Formula 1 racing team Alpine.
The deal has seen the consortium - which includes Reynolds and fellow actor Rob McElhenny, along with AC Milan owner RedBird Capital Partners, Otro Capital, and Maximum Effort Investments - pump about $218 million into the Renault-owned racing team, according to F1. Other investors include "Black Panther" actor Michael B. Jordan.
"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," Renault Group CEO Luca de Meo said in a press release.
According to Alpine, the investment values the British F1 team at around $900 million.
This is not the first time Reynolds has dabbled in sporting investments. Back in 2020, both he and McElhenny announced a surprise takeover of Welsh soccer team Wrexham AFC – the third oldest professional soccer team in the world.
The deal saw the Hollywood duo pump $2.5 million into the club, which just this year, won its spot back to the English Football League after 15-years.
Alpine's collaboration with Reynolds and other investors comes after the company recently announced its goal to hit $8 billion in revenue by 2030.
The racing team, which has Pierre Gasly and Esteban Ocon as principle drivers, has won two world championships and is currently 5th place in the 2023 constructor standings.