Ryan Reynolds has his sights set on a new investment: Formula 1 team Alpine. Through his film production and digital marketing company Maximum Effort, Reynolds, Michael B. Jordan, and Rob McElhenney have acquired a 24 percent stake — worth around $220 million — in the Renault-owned team alongside two other groups of investors.
“Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing,” James Toney, Co-Founder of Maximum Effort Investments, shared in a statement.
He added: “We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”
Reynolds and McElhenney are already co-owners of the Wrexham Association Football Club together, so their latest investment is another in their series of business partnerships. Jordan is also a minority owner of Bournemouth, a Premier League team.
Alpine currently holds fifth place in the F1 world championship. The new slate of investors gives hope that the team can catch up to its competitors after slipping down one position lower than the one they finished during the last campaign. According to a report from Formula 1, the new investments bring the team’s valuation to around $900 million. Alpine has its sights set on bringing in over $8 billion in revenue in the next seven years and breaking even in the next three years.
“Formula 1 and Alpine are strategic assets for Renault Group,” said Renault Group CEO Luca de Meo. “Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupe, 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.”
Laurent Rossi, Alpine CEO, added: “This association is an important step to enhance our performance at all levels. First, 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.”
Now the real question is: Will we see Reynolds, Jordan, and McElhenney on the next season of Netflix’s Formula 1: Drive to Survive?
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