Hollywood superstar Ryan Reynolds is to join forces with Fenway Sports Group partner RedBird Capital Partners in acquiring a stake in a Formula One team.
RedBird, led by founder, managing partner and chief investment officer Gerry Cardinale, own 11 per cent of Liverpool owners FSG following a $750m deal that was sealed in March 2021. Since then the New York-based investment firm has taken majority ownership of Serie A giants AC Milan as well as the XFL professional football league in America, a deal done alongside actor Dwayne Johnson.
Now, RedBird are set to partner with another well known face from Tinseltown on an investment deal with Reynolds’ Maximum Effort Investments firm, which includes his Wrexham FC co-owner Rob McElhenney and recent Bournemouth investor and Creed star, Michael B Jordan, one of firms taking a slice of a 24 per cent stake at a $900m (£708m) valuation, according to US sports business website Sportico.
The $218m investment is being led by RedBird and Otro Capital, a firm co-founded by RedBird partner Alec Scheiner, one of the key members of the team when it comes to sports investments with the firm. Scheiner will take a seat on the Alpine board as part of the deal.
READ MORE: Xabi Alonso phonecall helped Liverpool beat Man City and Chelsea to £17.5m transfer
READ MORE: Real Madrid star slammed Liverpool team-mate and 'walked out' on squad after row with Everton hero
A further FSG link exists through the investment in the deal from Main Street Advisors, the investment fund run by Paul Wachter, the US businessman and FSG partner who has played a significant role in the careers of the likes of LeBron James and Arnold Schwarzenegger.
RedBird, founded by Cardinale in 2012, manages more than $8.6bn in assets across a number of industries, and has been a significant player in the sports investment world in recent years. The move for a stake in the Renault-owned Alpine team would come at a time when F1’s popularity globally is soaring through its uniquely global reach where it has showcase events in its season across the globe that attracts huge audiences and sponsorship, and also through the hugely successful Netflix series ‘Drive to Survive’. The investment is set to aid Alpine in growing its F1 business, media rights and content creation.
“This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value,” Renault Group CEO Luca de Meo said in a statement.
RedBird, who also own French Ligue 1 side and Europa League qualifiers Toulouse, are understood to not be participating in the current search for investment that Liverpool are undertaking, as previously reported by the ECHO.
