After Conquering Football, Ryan Reynolds & Rob McElhenney Are Buying Into Formula 1
— Updated on 27 June 2023

After Conquering Football, Ryan Reynolds & Rob McElhenney Are Buying Into Formula 1

— Updated on 27 June 2023
Garry Lu
Garry Lu

Renault, the parent company behind Alpine F1, has announced Ryan Reynolds and Rob McElhenney will join Otro Capital and RedBird Capital Partners in a €200 million ($326.3 million) deal to acquire 24% of the race team.

Aside from bringing the elite motorsport outfit led by Otmar Szafnauer to an implied valuation of over €800 million ($1.31 billion), much of the excitement surrounding this latest development involves the Hollywood multihyphenates’ recent track record within the realm of sports team ownership.

As many of you may already be aware, Reynolds and McElhenney have proven to be worthy custodians of Wrexham AFC ever since they assumed control of the world’s third-oldest professional association football club back in November 2020.

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Just a few months ago, the Welsh outfit, which had long been relegated to the National League, made a triumphant return to the English Football League. And its recent promotion was achieved in no small part thanks to the Deadpool actor and It’s Always Sunny in Philadelphia star’s contributions, i.e. fresh injections of capital, global spotlight brought about by the hit Disney+ docuseries Welcome to Wrexham (which only attracted further funding).

“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi.

“Otro Capital, RedBird Capital Partners and [Ryan Reynold & Rob McElhenney’s] 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.”

RELATED: Here’s What Every Formula 1 Driver Is Earning In The 2023 Season

Run by former Goldman Sachs banker Gerry Cardinale, RedBird is also a key investor in Fenway Sports Group — the owner of Premier League side Liverpool and MLB’s Boston Red Sox. And as Sky Sports points out, it also retains a controlling stake in French Ligue 1 football club Toulouse and bought Italian Serie A club AC Milan for €1.2 billion ($1.96 billion) around this time last year.

In their 2023 campaign with French-born drivers Pierre Gasly and Esteban Ocon, Alpine F1 is currently ranked fifth in the Constructor’s Championship; placing fourth in the final standings for the 2022 season. The last time the team won a title was in 2006 with two-time world champion Fernando Alonso (then competing as Renault).

Are we in for another Cinderella story?

Side note: Welcome to Renault on Disney+ confirmed??

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Garry Lu
After stretching his legs with companies such as The Motley Fool and the odd marketing agency, Garry joined Boss Hunting in 2019 as a fully-fledged Content Specialist. In 2021, he was promoted to News Editor. Garry proudly retains a blue belt in Brazilian Jiu-Jitsu, black bruises from Muay Thai, as well as a black belt in all things pop culture. Drop him a line at [email protected]


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