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Hollywood’s affinity for Formula 1 keeps on coming with news that factory actors Ryan Reynolds, Rob McElhenney, and Michael B. Jordan have purchased a stake in Alpine F1 Team.
I guess if the Ottawa Senators weren’t going to pan out, Reynolds wanted to add to his sports ownership portfolio somewhere else.
Renault Group the French, Endstone-based team’s parent company and owner of the Alpine sports car brand announced that they had brought in a new group of investors. This group purchased 24% of the team for $218.4 million.
Reynolds’ Maximum Effort Investments was part of this investment group along with Otro Capital and RedBird Capital Partners.
“Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing,” Maximum Effort Investment co-founder James Toney said in a statement, per Deadline.
“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.”
New Investments Should Help Alpine On And Off Track
An extra infusion of cash never hurts, but having major names like Reynolds, McElhenney, and Jordan in the fold will be huge for Alpine.
Internationally, the team has a lower profile than the likes of Ferrari, Mercedes, Red Bull, and McLaren. Now, they’ve got some dudes on board who made a Welsh lower-tier soccer team a household name.
This means that they could also bring attention to Alpine, which in turn would make them more desirable to sponsors, thereby earning them more money.
As for the team’s on-track performance, they’ve been arguably the streakiest team on the grid. Of the 8 races this season, Alpine has scored in 6 of them. Their total haul when they scored points has also ranged from 2 points in Bahrain to 21 points in Monaco, most of which came from Esteban Ocon’s P3.
This is to say that when Alpine rolls up to a circuit you don’t always know what you’re going to get. Perhaps this money will help them find some level of consistency as they fight to hold on to P5 in the constructor’s standings.
However, this new infusion of cash is huge in a sport where even with a cost-cap, money is a huge factor.
Having some Hollywood star power in their corner certainly won’t be bad for business either.
Follow on Twitter: @Matt_Reigle