Hollywood star Ryan Reynolds is broadening his business interests in the sports world.
The actor’s investment firm, Maximum Effort Investments — whose other backers include actors Rob McElhenney and Michael B. Jordan — is teaming up with private equity firm RedBird Capital Partners and Otro Capital to buy a 24 percent stake in the Alpine Formula 1 Race Team. The partners are paying the team’s owner, Renault Group, about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million.
The deal continues a trend of soaring valuations for sports teams and rights, whether mainstream or more niche, as legacy media companies and tech giants alike vie for the value of eyeballs-attracting live events.
The partners said the deal would help accelerate Alpine Racing’s growth plans and visibility. Interest in Formula 1 has grown rapidly in the U.S. — in no small part thanks to the popularity of Netflix’s 5-season docuseries Drive to Survive, which chronicles the sport both on and off the track.
Alpine is a mid-level team that has been on the rise in recent years. In the 2022 season, it finished fourth out of ten teams. Led by French drivers Pierre Gasly and Esteban Ocon, Alpine currently sits fifth in the 2023 Constructors’ Championship standings.
“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi in a statement on Monday. “Otro Capital, RedBird Capital Partners and Maximum Effort Investments, 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.”
Reynold’s first foray into sports ownership came in November 2020 when he and McElhenney teamed up to buy Welsh soccer club Wrexham AFC. They went on to create bankable content out of that experience — while also elevating their team’s profile — with doc series Welcome to Wrexham, which airs on FX. The duo undeniably have helped rejuvenate the team, which earned a promotion back into the English Football League for the 2023 season for the first time in 15 years.
