Ryan Reynolds among new investors backing F1 team Alpine in $218 mn deal

After soccer, Hollywood stars Ryan Reynolds and Rob McElhenney are setting their sights on Formula One.

F1 team Alpine has secured a 200 million euro ($218 million) investment from a group of investors that includes the actors.

French automotive company Renault Group Alpine's parent company said Monday that the group has acquired a 24% stake in the team. It includes Otro Capital, RedBird Capital Partners and Maximum Effort Investments, which is led by Reynolds.

The transaction values Alpine Racing Ltd. around $900 million following this investment, the team said in a statement. "It will accelerate Alpine's growth plans and sporting ambitions in F1."

Other investors include actor Michael B. Jordan.

Reynolds and McElhenney completed a $2.5 million takeover of Welsh soccer team Wrexham in November 2020. The club was thrust into the global spotlight because of its A-list owners and secured promotion to the fourth tier of English soccer this season.

With drivers Pierre Gasly and Est