[RahulNagaraj]

Alpine F1 team has announced that they have secured a 200 million euros cash injection from a group of investors, which includes Hollywood actor Ryan Reynolds.

It is said that the fresh cash injection would help the French Formula 1 team get closer to the leading teams. Alpine is currently fifth in the Constructor's Championship - one place lower than where they finished last year.



According to reports, the Investor Group consisting of Otro Capital, RedBird Capital Partners & Maximum Effort Investments have secured a 24% stake in the F1 team - valued at 900 million euros.

Speaking about the new investment, Laurent Rossi, CEO of Alpine, stated that the Investors Group have a strong track record in the sporting industry and will help boost the F1 team's media and marketing strategy. He further added that the revenue will be used to catch up with the top teams via state-of-the-art facilities & equipment.

Reports also confirm that the investment centres around the F1 team only. Renault's engine division in Viry is not part of the transaction and will remain wholly owned by the Renault Group.

Talking about the Investors, the group has previously worked with America's National Football League, French football club Toulouse FC & English football team Wrexham AFC. Hollywood actor Ryan Reynolds bought Wrexham AFC in 2020 along with actor Rob McElhenney, both of whom have overseen the club's rejuvenation, earning a promotion back to the English Football League after 15 years.

Source: F1

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