Ryan Reynolds backs Renaults Alpine F1 team

Wrexham co-owners Rob McElhenney (left) and Ryan Reynolds watch the match between Wrexham and Boreham Wood at the racecourse grounds in Wrexham, Wales. (Associated Press)

Hollywood actor Ryan Reynolds and AC milan Owner Redbird Capital Partners is leading a group of investors buying shares. Renault SA’s Alpine Formula 1 team values ​​the business at $900 million.

Renault says Redbird, Otro Capital and Maximum Effort Investments will invest €200 million ($218 million) to acquire a 24% stake in Alpine Racing Limited, which oversees Alpine’s F1 activities. announced that it was planned

Renault CEO Luca de Meo’s commitment to F1 is a key pillar of his strategy. Expanding Alpine’s sports car business to the United States, And we are moving towards electrification. After rebranding Renault’s F1 team to Alpine, DeMeo is currently developing an all-electric line-up of seven models, starting with next year’s A290 city car. crossover 2025 model.

The company aims to generate more than €8 billion in revenue as the manufacturer of the Alpine A110 sports coupe in 2030, including: China Suppose you start selling there. The automaker plans to reach breakeven by 2026.

The deal gives Alpine access to an experienced group of investors. Redbird, which manages $8.6 billion in capital across sectors such as sports, consumer and financial services, led the €1.2 billion acquisition of AC Milan last year and is also the owner of French football team Toulouse FC. Alec Shiner, co-founder and partner of Otoro Capital, joins Alpine’s board of directors.

For Reynolds, the move adds a new sporting interest to his biggest-ever investment after taking over English football club AFC Wrexham in 2021 alongside fellow Hollywood actor Rob McElhenney. A frequent spectator, Reynolds saw the club promoted to England. football league this year.

Renault’s sale of its 24% stake in the Alpine Racing Team for €200m highlights the value of the F1 franchise, but also expands the Alpine brand to seven models (from one model), with a 10% stake. There is also the ambition to get an ebit margin. With sales of just 3,546 cars in 2022, his sales of €8 billion by 2030 seem too optimistic. Although the brand gained some notoriety in his 1980s, the French automaker has yet to make a meaningful foray into the premium segment.

The Alpine team finished fourth in the F1 rankings last season. Driver Esteban Ocon finished 3rd at the prestigious Monaco, Grand Prix Last month saw another difficult start to this year’s F1 championship. The team is currently fifth in the constructors’ standings. red bull racing, mercedes, aston martin and Ferrari.

Alpine Racing SAS, manufacturing entity F1 The engine in Viry-Chatillon, France will remain 100% owned by Renault. Bloomberg previously reported on the meeting.

https://ift.tt/3yjIJFr Ryan Reynolds backs Renault’s Alpine F1 team

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