The Alpine Formula 1 team is a bit of a strange entity. Despite only becoming Alpine in 2021, the side has ties back to the Benetton Formula Team of the 1990s and the Renault side that won the world title in 2005 and 2006. Now, the team is clamoring for a return to those lofty days, and hopes that new backing from Hollywood actor Ryan Reynolds can help it get there.
No, you’re not mistaken there. The Pokémon: Detective Pikachu and Deadpool star is part of a group of investors that has purchased a 24 percent stake in the French Formula 1 team for $218 million (€200 million). The investor group was formed of Otro Capital, RedBird Capital Partners and Maximum Effort Investments, and as well as Reynolds its backers include Michael B. Jordan and Rob McElhenney.
“This association is an important step to enhance our performance at all levels,” said Laurent Rossi, CEO of Alpine, in a statement.
“First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term. Second, the incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment.”
The backing of Alpine is an exciting move for this particular set of investors, which has previously plowed cash into the Dallas Cowboys, Fenway Sports Group, the NFL and Toulouse FC. Reynolds and his investment pals also bought the Wrexham FC soccer team, which was promoted to the English Football League earlier this year after years spent playing at lower levels. Alpine will be hoping for a similar dash of magic from the Turbo actor.
According to the French team, the investors bring with them “collective expertise” across areas like “media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies,” all of which sound very important, but can they help the side continue moving up the points table?
Alpine seems to have been stuck in five year plan after five year plan since it returned to F1 as Renault back in 2016. In the years since, it has promised that moves back to the top step of the podium are coming. But while it did manage a win in Hungary in 2021 after Esteban Ocon triumphed in a crazy race, that hasn’t been all too common.
Now, after a rule change in 2022, Alpine remains a good few tenths off the pace of leaders Red Bull and onward, but a race weekend is often back on teams like Ferrari, Aston Martin and Mercedes that are scrapping for second place.
Hopefully, some fresh eyes on the issues can help point Alpine in the right direction. As such, Alec Scheiner, co-founder and partner of Otro Capital, will join the Alpine Racing Ltd’s Board of Directors.
Interestingly, the sale is just for the Alpine F1 Team and does not include the French engine plant in Viry-Châtillon, France. That outfit, known as Alpine Racing SAS, will remain entirely owned by Renault Group.