Ryan Reynolds is the new part owner of another sports team. This week, Formula 1 team Alpine announced they had secured new backing from an inventor group, including the Canadian movie star. READ MORE: Blake Lively And Ryan Reynolds Visit With ‘Great British Bake Off’ Hosts: See The Photos According to Formula1.com, the investor group, which also includes Otro Capital, RedBird Capital Partners and Maximum Effort Investments, acquired a 24 per cent stake in the team in a deal worth over $280 million.
The cash injection into the team places its value at nearly $1.3 billion. “Formula 1 and Alpine are strategic assets for Renault Group,” said Renault Group CEO Luca de Meo. “Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupe, 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.” READ MORE: Ryan Reynolds Is Telling ‘Bedtime Stories’ In New Series For His Maximum Effort Streaming Channel The investor group has also gotten in on other sports franchises, including the Dallas Cowboys, the French soccer team Toulous FC and Wrexham AFC, which is co-owned by Reynolds and Rob McElhenney.
News of Reynolds’ latest sports investment comes just months after he dropped out of a joint bid to purchase the NHL’s Ottawa Senators.
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