Wrexham's Hollywood co-owners Ryan Reynolds and Rob McElhenney have joined an investment group which will be buying a 24 per cent stake in F1 team Alpine.
Alpine's parent company Renault announced the move on Monday in a deal which is worth £171m ($217m). The deal values Alpine at £700m ($891m).
Reynolds leads Maximum Effort Investments which McElhenney and fellow actor Michael B. Jordan have joined as co-investors. Jordan is also an investor in football, holding a stake in Premier League side AFC Bournemouth.
Reynolds and McElhenney have also been joined in the investment by Otro Capital and RedBird Capital Partners. RedBird is run by former Goldman Sachs banker Gerry Cardinale who is also an investor in Fenway Sports Group, the owner of Premier League side Liverpool and the Boston Red Sox baseball team.
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RedBird also has a controlling stake in Toulouse and was part of the AC Milan purchase last summer. Discussing the investment from their three new partners, Alpine CEO Laurent Rossi said: "This association is an important step to enhance our performance at all levels.
"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. 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."
Alpine are currently fifth in the F1 2023 constructors Championship after eight races.
