Alpine will benefit from a €200 million investment from an Investor Group with Renault’s CEO saying the boost will help to further the team’s ambitions of fighting for championships in Formula 1. Michael B. Jordan, as well as Wrexham owners Ryan Reynolds and Rob McElhenney, are involved in this.
Renault group and Alpine today announced a €200 million capital injection to the Alpine Formula 1 team, as an investor group consisting of Otro Capital, Redbird Capital Partners and Maximum Effort Investments acquire a 24% stake in the Enstone-based outfit. The deal does not, however, affect the Viry-Châtillon-based Alpine Racing SAS, who develop and manufacture the team’s Formula 1 power units.
“This partnership will accelerate Alpine F1 development…”
In a press release earlier today, CEO of Renault Group Luca de Meo claims the capital injection will help to accelerate Alpine’s progression towards the front of the grid, while Alpine CEO Laurent Rossi highlights the sporting expertise of the investment group, which he says will benefit the team’s marketing strategies.
“Formula 1 and Alpine are strategic assets for Renault Group.” Luca de Meo said. “Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”
“The incremental revenue generated will in turn be reinvested in the team…”
Rossi also stated that the extra revenue generated by the partnership will be reinvested back into the team, creating a positive feedback loop over time which will in turn assist in the team’s growth and ambitions.
“This association is an important step to enhance our performance at all levels,” said Rossi. “First, [the Investor Group], as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.
“Second, 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.”
Photo Credit: BWT Alpine F1 Team
“We can add value to Alpine’s business operations…”
Representatives from both Otro Capital and Maximum Effort Investments also expressed their excitement in working with Alpine citing their belief in the team’s management as well as the potential of the team within the sport.
“We are thrilled to have the opportunity to invest in Alpine F1,” said Alan Scheiner, Co-Founder and Partner of Otro Capital. “We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine’s business operations and brand building, especially in North America.”
“We believe there is tremendous untapped potential in Alpine Racing.”
James Toney also shed some light on the goals of Maximum Effort Investments in working with the team, saying the group intend to share the story of the team in order to boost their value.
“Maximum Effort Investments focuses on unlocking value through the power of storytelling,” Explained James Toney, Co-Founder of Maximum Effort Investments. “And we believe there is tremendous untapped potential in Alpine Racing.
“We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”
