F1: Actors Reynolds, McElhenney join group investing in Alpine team (Update)

While neither of the Hollywood stars were at the presentation at Alpine’s F1 base in Enstone, Otro Capital’s co-founder Alec Scheiner was and put some detail into why investors chose Alpine to get involved with.

“We’ve invested across various countries in the world across almost every single sport,” Scheiner said.

“We’ve partnered with the Dallas Cowboys, New York Yankees, the NFL, the NFL Players Association. We’ve invested in football, invested in basketball, hockey and cricket in India.

“So for us when we look at sports and investing, we look at three things.

“Number one is are they a valuable intellectual property? Number two, can we provide value to the investment we bring? And number three, do we have like-minded partners?

“We think about those things and Alpine checks every single box.

“So it starts with the partners for us and it starts with [Alpine CEO] Laurent Rossi and [Renault CEO] Luca de Meo.

“They came to us which is how we like to start these partnerships because it shows that there’s a strategic value that we can bring and so that like-minded partnership is the most important thing. We have to start with people who believe in what we believe in.”

Luca de Meo, CEO of Renault Group: “Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupé, 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.”

Laurent Rossi, CEO of Alpine: “This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized 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.”

Alec Scheiner, Co-Founder and Partner of Otro Capital: “We are thrilled to have the opportunity to invest in Alpine F1. We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine’s business operations and brand building, especially in North America.”

James Toney, Co-Founder of Maximum Effort Investments: “Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing. We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”

Otro and RedBird’s investment also includes participation from the Huntsman Family and Main Street Advisors.

Hollywood actors Ryan Reynolds and Rob McElhenney are joining Otro Capital and RedBird Capital Partners in an investor group taking a 24% equity stake in Alpine Racing, the Formula One team’s parent company Renault announced on Monday.

The $218.10m deal values British-based Alpine Racing at around $900m following the investment.

According to Tobi Gruner, three F1 teams have been approached by potential buyers or investors last year with offers valuing those teams at $1 billion or more. All three rejected the sale of equity stakes.

Alec Scheiner, the co-founder and partner of Otro Capital, will join Alpine Racing’s board of directors.

‘Deadpool’ star Reynolds leads Maximum Effort Investments with McElhenney, of American comedy series ‘It’s Always Sunny in Philadelphia’, and fellow-actor Michael B. Jordan as co-investors.

Reynolds and McElhenney took over Wrexham in November 2020, funding the Welsh club’s return to the English Football League as fifth-tier champions in April this year.

Renault said Otro and RedBird’s investment included the participation of the Huntsman Family and Main Street Advisors.

US investment firm RedBird, run by former Goldman Sachs banker Gerry Cardinale, is an investor in Fenway Sports Group, the owner of Premier League side Liverpool and the Boston Red Sox baseball team.

Press Release

Renault Group and Alpine welcome Otro Capital, RedBird Capital Partners and Maximum Effort Investments to Alpine Racing Ltd, with a 24% equity stake.

• Renault Group and Alpine welcome Otro Capital and their partner, RedBird Capital Partners, along with Maximum Effort Investments (together, the “Investor Group”) to Alpine Racing Ltd, the entity in charge of Formula 1 activities based in Enstone (UK).
• The Investor Group is investing €200 million, representing a 24% equity stake, to support Alpine’s growth strategy and sporting ambitions in Formula 1.
• The transaction values Alpine Racing Ltd around $ 900 million following this investment.
• The Investor Group brings together a unique combination of expertise. Otro Capital and RedBird Capital Partners, with the brand building skills of Maximum Effort Investments (led by Ryan Reynolds) will bring successful sports & media experience and operational expertise in building high-growth companies.
• Ryan Reynolds co-investors also include Michael B. Jordan and Wrexham AFC Co-Chairman Rob McElhenney.
• The Investor Group is excited to enter F1, one of the most attractive and fastest growing international sports, with a historical F1 champion.
• Alec Scheiner, Co-Founder and Partner of Otro Capital, will join the Alpine Racing Ltd’s Board of Directors.