Not where the team wants to be yet: Alpine is currently not a candidate for victory in Formula 1.
Image: Reuters
Renault sells 24 percent of the shares in the Formula 1 racing team Alpine, including to a company owned by Ryan Reynolds. Things are not going too well for the team at the moment, but Renault has big plans – also off the track.
Ryan Reynolds’ passion for football has been known for a while. In November 2020, the Hollywood star and his friend Rob McElhenney bought the Welsh club AFC Wrexham for the equivalent of around 2.8 million euros. The club has just been promoted to the fourth English division. With their company Maximum Effort Investments, they are now entering the premier class of motorsport: together with the investment companies Otro Capital and Red Bird Capital Partners – not least the majority owners of AC Milan – they are taking over 24 percent of the shares in the Renault Formula 1 team Alpine.
As the French automaker announced on Monday, the group of investors will pay 200 million euros for a stake in the British Enstone-based team. The engine division in Viry-Châtillon is not part of the deal and will remain 100 percent owned by Renault, the statement said. As part of the transaction, the team will be valued at around $900 million.