Hollywood actor Ryan Reynolds has expanded his sporting capital, joining a group of investors who bought 24% of French Formula 1 team Alpine.
The purchase is set to inject NZ$354 million into the team, which is currently sitting fifth on the constructor's championship ladder.
The Investor Group, formed of Otro Capital, RedBird Capital Partners and Maximum Effort Investments, has boosted the team's value to around NZ$1.5 billion.
It comes as Reynolds has seen great success come out of his other major sporting investment, AFC Wrexham - which found itself promoted back into the English Football League after 16 years. He co-owns the team with fellow actor Rob McElhenney.
Alpine chief executive Laurent Rossi hopes the investment will boost the team's chances for the rest of this year's race season.
"This association is an important step to enhance our performance at all levels," he said.
"First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with a 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."
“Second, 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.”
SHARE ME