Hollywood actors and co-owners of Wrexham Football Club Ryan Reynolds and Rob McElhenney are joining Otro Capital and RedBird Capital Partners in an investor group taking a 24 per cent equity stake in Alpine Racing, the Formula One team's parent company Renault announced on Monday.
The €200 million ($218.10 million) deal values British-based Alpine Racing at around $900 million following the investment.
Alec Scheiner, the co-founder and partner of Otro Capital, will join Alpine Racing's board of directors.
"This association is an important step to enhance our performance at all levels," said Alpine CEO Laurent Rossi.
"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.
"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."
'Mountain Climber' is a plan to be fighting for Formula One titles within the space of 100 races, starting in 2022.
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Wrexham's Ollie Palmer with co-owner Ryan Reynolds, left, after a 3-2 win over Notts County pushed the Welsh club closer to promotion to a return to the fourth tier of English football. Reuters -
Ben Foster of Wrexham is congratulated by teammates after the final whistle after saving a 97th minute Notts County penalty in the Vanarama National League match at The Racecourse on April 10, 2023 in Wrexham, Wales. Wrexham won the game 3-2. Getty Images -
Wrexham co-owner Ryan Reynolds celebrates with Eoghan O'Connel. Reuters -
Wrexham's Elliot Lee celebrates scoring his side's third goal against Notts County. PA -
Wrexham co-owners Ryan Reynolds celebrates after winning the match with players. Reuters -
Ryan Reynolds, co-owner of Wrexham, interacts with fans during the Vanarama National League match between against Notts County at The Racecourse Ground. Getty Images -
Ryan Reynolds, co-owner of Wrexham interacts with fans. Getty Images -
Wrexham's Elliot Lee and Notts County's Connell Rawlinson battle for the ball. PA -
Wrexham owners Ryan Reynolds, centre right, and Rob McElhenney, centre left, react during the National League match between Wrexham against Notts County. PA via -
Wrexham goalkeeper Ben Foster gives his shirt to a fan after their side's victor. Getty Images -
A fan takes a photo with Wrexham co-owner Ryan Reynolds before the match. Reuters -
Wrexham's Elliot Lee and Notts County's Matt Palmer. PA -
A fan takes a photo with Wrexham co-owner Ryan Reynolds before the match. Reuters -
Wrexham's Elliot Lee scores their side's third goal. PA -
Wrexham co-owners Ryan Reynolds and Rob McElhenney. Reuters -
Paul Mullin of Wrexham celebrates their side's third goal. Getty Images -
A fan takes a photo with Wrexham co-owner Ryan Reynolds before the match. Reuters
Deadpool star Reynolds leads Maximum Effort Investments with McElhenney, of American comedy series It's Always Sunny in Philadelphia, and fellow actor Michael B Jordan as co-investors.
Reynolds and McElhenney took over Wrexham in November 2020, funding the Welsh club's return to the English Football League as fifth-tier champions in April this year.
Their popular docu-series Welcome to Wrexham has proved a big hit in North America, propelling the little-known club into the global spotlight.
Alpine Racing, with a factory at Enstone in central England, won Formula One constructors' world championships in 2005 and 2006 when they competed as Renault's works team and also as Benetton in 1995.
They finished fourth in the championship last year and are currently fifth after eight of 22 races.
Renault said Alpine Racing SAS, the French entity that makes the team's power units in Viry-Châtillon, will remain entirely owned by the carmaker.
