Actors Ryan Reynolds and Rob McElhenney -- after making headlines across the soccer world -- are venturing into Formula One. The duo is joining Otro Capital and RedBirds Partners in an investor group and will own a 24 percent equity stake in Alpine Racing, according to an announcement.
Following the investment, the $218.10 million puts Alpine Racing's current value at an estimated $900 million. Alec Scheiner, who is the co-founder and partner of Otro Capital, is also slated to join Alpine Racing's board of directors.
Reynolds leads Maximum Effort Investments, along with McElhenney and actor Michael B. Jordan.
"This association is an important step to enhance our performance at all levels," Alpine CEO Laurent Rossi said in a statement. "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."
Reynolds and McElhenney have already had an abundance of success when it comes to the sports world.
The two actors purchased Wrexham A.F.C. in November 2020, and helped lead the Welsh club back to the English Football League as fifth-tier champions this past April. Now Wrexham will join EFL League Two, which is the fourth level of the English Football League system.
The United States investment firm, RedBird, is run by former Goldman Sachs banker Gerry Cardinale, who is also an investor in Fenway Sports Group, and by association the Premier League club Liverpool and the Boston Red Sox.
In addition, RedBird bought Italy's AC Milan in August 2022 in a €1.2 billion deal ($1.3 billion). RedBird also owns a controlling stake in the French club Toulouse while also being involved with the New York Yankees.
Alpine Racing has won the Formula One constructors' world championships in 2005 and 2006. They finished in fourth place in the championship in 2022 and are currently in fifth place with eight of the season's 22 races having been completed.
