Deadpool star Ryan Reynolds buys stake in F1 team
Ryan Reynolds and Rob McElhenney will part-own the Formula One team Alpine Racing through their Maximum Effort Investments banner.
Having already dipped their toes in the English football pyramid via Wrexham AFC – a docuseries titled Welcome to Wrexham chronicled this Hollywood takeover – it's now been announced that they're joining RedBird Capital Partners and Otro Capital in acquiring 24% equity in Alpine.
Parent company Renault shared the news this week, with the deal said to be worth just over $218 million.
Related: Ryan Reynolds pays tribute to late Wrexham fan following "enormous loss"
"Formula 1 and Alpine are strategic assets for Renault Group," said Renault Group CEO Luca de Meo in a statement.
"Over the past two years, we have reignited Alpine, capitalising on its iconic A110 sports coupe, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value."
Commenting on the acquisition, Alpine's counterpart Laurent Rossi went on to comment: "This association is an important step to enhance our performance at all levels.
Disney+
Related: Ryan Reynolds gets fans excited with Bake Off photo
"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.
"The incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment."
Deadpool and Deadpool 2 are streaming on Disney+. Deadpool 3, starring Ryan Reynolds and Hugh Jackman, has a release date of September 6, 2024.
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