A-LISTER INTERVENES: Ryan Reynolds joins F1 in $325 million megadeal

Hollywood actors Ryan Reynolds and Rob McElhenney have joined Formula One team Alpine as major investors, taking a 24 per cent equity stake in the outfit.

Alpine’s parent company Renault announced on Monday that Reynolds, McElhenney and Michael B. Jordan were joining Otro Capital and RedBird Capital Partners in an investment deal worth 200 million euros (AUD $325 million).

Watch the Formula 1 Austrian Grand Prix 2023 Live and ad-break free in racing on Kayo Sports Sunday July 2nd 11:00PM AEST. New to Kayo? Start your free trial now >

Alec Scheiner, the co-founder and partner of Otro Capital, will join Alpine Racing’s board of directors.

Reynolds leads Maximum Effort Investments with McElhenney and Creed star Jordan as co-investors.

The Deadpool star and his wife Blake Lively’s net worth is $690 million.

Reynolds earned himself a juicy pay day earlier this year when Mint Mobile, the prepaid wireless provider he partially owned, was bought by T-Mobile US Inc. for nearly $2 billion (US$1.3 billion).

Reynolds and McElhenney took over Wrexham in 2020, funding the Welsh football club’s return to the English Football League as fifth-tier champions earlier this year.

The duo’s popular docuseries Welcome to Wrexham was a hit in America and their move into the world of F1 is another sign of the sport’s booming popularity in the United States.
 

The investor group of Otro Capital, RedBird Capital Partners and Maximum Effort Investments, have worked with NFL team the Dallas Cowboys and French football club Toulouse FC.

RedBird is an investor in Fenway Sports Group, owner of Premier League side Liverpool and the MLB’s Boston Red Sox.

According to Renault, the investment deal means Alpine is now valued at A$1.34 billion — making it the third richest F1 team behind Ferrari and Mercedes.