Hollywood stars Rob McElhenney and Ryan Reynolds are aiming for Formula One after soccer.
A group of investors that includes the actors has provided F1 team Alpine with a $218 million investment in the amount of 200 million euros.
Alpine’s parent company, the French automaker Renault Group, announced on Monday that it has acquired a 24% stake in the team. Reynolds is in charge of Maximum Effort Investments, which includes Otro Capital, RedBird Capital Partners, and others.
“The transaction values Alpine Racing Ltd. around $900 million following this investment,” the team said in a statement. “It will accelerate Alpine’s growth plans and sporting ambitions in F1.”
Michael B. Jordan, an actor, is one of the other investors.
In November 2020, Reynolds and McElhenney completed their $2.5 million acquisition of the Welsh soccer team Wrexham. Due to its A-list owners, the club gained international attention and was promoted to the fourth division of English soccer this season.
Alpine is fifth in the constructors’ championship with drivers Pierre Gasly and Esteban Ocon. Last year, the team finished fourth in the constructors’ standings, and it has struggled this season to catch Red Bull, Ferrari, and Mercedes.
According to Renault, the investors have previous experience working with the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse, a French soccer club, and Wrexham.
According to Renault, Alpine Racing SAS, the French company that makes F1 engines, is not a part of the deal and will remain entirely owned by Renault Group.