Styria [Austria], June 26 : BWT Alpine F1 Team has secured a 200 million Euro investment, with Hollywood actor Ryan Reynolds also a part of the deal.
The Alpine F1 team is currently fifth in the constructor's championship and they are aiming to finish in the top three.
To improve upon their performance Alpine needed funds to make technical and mechanical changes in their car.
According to the official website of Formula 1, "The Investor Group, formed of Otro Capital, RedBird Capital Partners and Maximum Effort Investments - have acquired a 24% stake in the F1 team."
It further stated, "The group have worked with NFL side Dallas Cowboys, America's National Football League (NFL), French football club Toulouse FC and English football team Wrexham AFC."
The Renault Group CEO Luca de Meo said, "Formula 1 and Alpine are strategic assets for Renault Group, over the past two years, we have re-ignited 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."
Alpine CEO Laurent Rossi added: "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 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."
Hollywood actor, Ryan Reynolds who is part of the deal with Alpine also owns an English football club, Wrexham.
According to the official website of Formula 1, "Reynolds bought Wrexham in November 2020 and, along with fellow actor and co-owner Rob McElhenney, has overseen the club's rejuvenation, which peaked with earning promotion back to the English Football League after 15 years."
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