18/12/2023
NEWS STORY
Renault Group and Alpine have announce the closing of the investment by Otro Capital of €200 million in Alpine Racing Ltd, announced earlier this year.
Renault Group and Alpine have announced the closing of the investment by Otro Capital of €200 million in Alpine Racing Ltd (based in England), announced on 26 June 2023, in the form of a 24% equity stake, to support Alpine's growth strategy and sporting ambitions in Formula 1.
At the same time it has been confirmed that Alec Scheiner, co-founder and partner of Otro Capital, has joined the Alpine Racing Ltd board.
The transaction values Alpine Racing Ltd at around $900m following the investment, allowing the team to develop its F1 image globally across media, sponsorship, ticketing, hospitality, commercial rights management, licensing and merchandising.
In October, Otro Capital announced the arrival of international and championship-winning athletes and sports investors in its investor group which includes RedBird Capital Partners and Maximum Effort Investments.
The inclusion of these premier investors, including Patrick Mahomes, Rory McIlroy, Anthony Joshua, Juan Mata and Roger Ehrenberg, strengthens Otro's strategic partnership with Alpine, combining expertise in different areas of the sport's ecosystem and hopefully enabling the team to reach new fans.