RedBird Capital Partners joins Otro Capital and Maximum Effort Investments in $200m investment Alpine, the deal valuing the French team at around $900m.
Renault Group and Alpine have announced a €200 million investment from Otro Capital and their partner, RedBird Capital Partners, along with Maximum Effort Investments, collectively known as the Investor Group, in Alpine Racing, which represents a 24% equity stake.
The transaction values Alpine at around $900 million following the investment and is intended to accelerate the company's growth plans and sporting ambitions in F1.
The F1 team will benefit from the Investor Group's collective expertise and track record in the sports industry including media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies to unlock incremental value creation and new growth levers.
The Investor Group brings together a unique combination of expertise, with Maximum Effort Investments, led by actor Ryan Reynolds, co-investors also include Michael B. Jordan and Wrexham AFC Co-Chairman Rob McElhenney, while Alec Scheiner, co-founder and partner of Otro Capital, will join Alpine Racing Ltd's Board of Directors.
Reynolds, star of Deadpool and McElhenney, of American comedy series It's Always Sunny in Philadelphia fame, took over Wrexham last November, and have overseen the Welsh club's return to the English Football League this year.
The Investor Group has a strong track record of company-building with recognized partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC. Alpine F1 team will also benefit from the Investor Group's expertise in data and technology, key enablers of marketing and commercial performance.
Alpine Racing SAS, the entity manufacturing F1 engines in Viry-Chatillon is not part of the transaction and will remain entirely owned by Renault Group.
"Formula 1 and Alpine are strategic assets for Renault Group," said Luca de Meo, CEO of Renault Group. "Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value."
"This association is an important step to enhance our performance at all levels," added Laurent Rossi, CEO of Alpine. "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."
"We are thrilled to have the opportunity to invest in Alpine F1," said Alec Scheiner, Co-Founder and Partner of Otro Capital. "We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine's business operations and brand building, especially in North America."
"Maximum Effort Investments focuses on unlocking value through the power of storytelling," added James Toney, Co-Founder of Maximum Effort Investments, "and we believe there is tremendous untapped potential in Alpine Racing. 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."
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