THIS F1 Team Seals €200m Sale to US Investor (Alpine)
The sale of a sizable portion of the Alpine F1 team to a significant US-based investor is sealed.
Alpine, who finished sixth in the 2023 constructors’ championship, has been making a concerted effort to raise its brand and build new relationships in order to potentially secure sponsorships in the future.
It was revealed in June 2023 that co-founder Alex Scheiner’s Otro Capital would buy a share in Alpine Racing Limited. This action was taken in association with Ryan Reynolds’s RedBird Capital Partners and Maximum Effort Investments.
Otro Capitals said in June that they had purchased a 24% share, or approximately 200 million euros, in the Alpine Formula One team. This acquisition put the Alpine team’s valuation at approximately $900 million.The co-founder of Otro has been named a director of the team following the completion of the formal work of the agreement.
Redbird Capital Partners and Hollywood star-studded Maximum Effort Investment are leading the purchase. Ryan Reynolds, the CEO of Maximum Effort Investment, recruited Rob McElhenney to the initiative as well, motivated by his football team’s success.
Many sports legends, including boxer Anthony Joshua, football players Trent Alexander-Arnold and Juan Mata, and golfer Rory McIlroy, were involved in the announcement a few months ago, according to Oro Capitals.
With these celebrities’ widespread appeal, the Alpine team hopes that the agreement will help them attract the interest of big brands, which might lead to future big sponsor deals.
