Ryan Reynolds missed out on owning an NHL team, but he’s shifted gears quickly.
Reynolds is part of an investment group purchasing a large minority stake in Alpine Racing of Formula 1 which values the team at $900 million, according to Sportico.
The group is led by RedBird Capital, which has ownership of sports franchises like the Boston Red Sox and AC Milan, and Otro Capital.
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Reynolds is joined by actors Michael B. Jordan, who has a stake in soccer club AFC Bournemouth, and Rob McElhenney, who is Reynolds’ co-owner with Wrexham AFC.
The new owners are reportedly expected to help Renault Group globalize their market, particularly by targeting the US, similar to how Reynolds and McElhenney were able to leverage their popularity in driving the success of Wrexham. The two did not pay a single penny to acquire the club, instead pledging to invest over $2.5 million into infrastructure and media.
Alpine is currently fifth in the constructor’s championship led by its two French drivers, Esteban Ocon and Pierre Gasly.
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This investment comes as Formula One continues its massive accent around the world driven by the Netflix Series “Formula 1: Drive to Survive.” It secured at least $75 million for a three-year US media rights deal with ESPN last year, up from just $5 million per year previously.
It also now has three races in the US, up from just one in 2021, and is targeting more races around the world particularly in Asia and Africa.
