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Last Updated 02.03.2024 | 12:30 PM IST
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Ryan Reynolds joins an array of investors in buying $218 million stake in Formula 1 Team Alpine

en Bollywood News Ryan Reynolds joins an array of investors in buying $218 million stake in Formula 1 Team Alpine

Ryan Reynolds continues to make his investments in the field of sports. The actor’s company Maximum Effort Investments is teaming up with RedBird Capital Partners and Otro Capital to buy a 24 percent stake in the Alpine Formula 1 Race Team.

Ryan Reynolds joins an array of investors in buying $218 million stake in Formula 1 Team Alpine

Ryan Reynolds joins an array of investors in buying $218 million stake in Formula 1 Team Alpine

As per The Hollywood Reporter, “The partners are paying the team’s owner, Renault Group, about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million.”

“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi in a statement on Monday. “Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with a strong track records 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.”

Ryan Reynolds’ and Robert McElhenney first teamed up in 2020 to buy Welsh soccer club Wrexham AFC. They featured in the docu-series Welcome to Wrexham, which airs on FX.

ALSO READ: Blake Lively and Ryan Reynolds welcome their fourth child, says she had “been busy”


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