Alpine has sold a 24% stake in the F1 team to a US-based investment group. But the deal isn't just about bringing in fresh funding to the Enstone squad. Analysis:
Monday’s confirmation of the anticipated American investment in the Alpine Formula 1 team was further proof of the championship’s expanding profile in the country.It also reflects an intriguing move by Renault to boost the profile of its sportscar brand and eventually generate more income around the F1 project, helped by the involvement of Hollywood star Ryan Reynolds and his associates Rob McElhenney and Michael B. Jordan.
“They [the investors] are going to help us boost our revenue, hospitality, sponsoring, licensing, merchandising above and beyond what we had planned.Photo by: Alpine “So we're just going to continue growing, expanding up to a point where we have similar structures and the way of doing makes a difference. And we believe the way of doing will make a difference because we have expertise here.”
That’s just the tip of the iceberg. As noted Otro is a new entity, but RedBird has long an involvement in a wide range of sporting activities under founder and Harvard and Oxford graduate Gerry Cardinale.The company has a stake in Fenway Sports, whose portfolio includes Liverpool FC, the Boston Red Sox, and the Roush Fenway NASCAR team.
“We've been investing in sports for over 25 years,” says Otro boss Scheiner. “We've invested across various countries in the world, across almost every single sport. We've partnered with the Dallas Cowboys, the New York Yankees, the NFL, the NFL Players' Association, we've invested in football, we've invested in basketball and hockey, cricket in India.
“We have to start with people who believe in what we believe in, which is the ability to bring commercial revenues to the table, to treat it like the scarce asset it is.” “And we think Alpine is the perfect vehicle. A works team, an iconic team, high performance built into it, and the brand is just getting started. So that checks the box on the IP.”“How can we help? That's probably the most important question for us,” says Scheiner. “And for us, all of the things we've done in our career, all of the investments we've made, lend themselves to being able to help here.
Otmar Szafnauer, Alpine F1 Team, Team Principal, Ciaron Pilbeam, Alpine F1 Team Chief Race Engineer, Alan Permane, Alpine F1 Team Trackside Operations Director on the grid“So I really appreciate the partnership. I appreciate the people that at Alpine and Renault for welcoming us, and we can't wait to get started.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The NFL and Hollywood lessons that Alpine’s US investors bring to F1Alpine’s investment from America shows the latest stage of the F1 boom in the United States 🇺🇸 But outside of the finance boost and its new Hollywood stars, there are key gains the team will benefit from ⬇️
Read more »
Ryan Reynolds and Redbird Capital to invest in Alpine F1 team\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Alpine F1 secures 200m euro from investors including Ryan ReynoldsThe Alpine Formula 1 team has sold 24% of its shares to a US based investor group including Hollywood actor Ryan Reynolds, for 200m euro.
Read more »
Alpine F1 secures 200m euro from investors including Ryan ReynoldsAlpine's F1 team has raised 200m euro from investors, including Hollywood actor Ryan Reynolds. The equity sale values the team at $900 million.
Read more »
Reynolds and McElhenney take stake in F1's AlpineWrexham Football Club owners Ryan Reynolds and Rob McElhenney are part of an investor group taking a 24% equity stake in Alpine.
Read more »
Ryan Reynolds and Rob McElhenney among investors to buy 24% of Alpine for £171mRyan Reynolds and Rob McElhenney are part of a group of investors who have bought 24% of Alpine for £171m 💰 F1
Read more »