Ryan Reynolds buys stake in Formula One racing team

Ryan Reynolds has added another professional sports operation to his portfolio.

The Vancouver-born actor is part of a group of investors that has paid €200 million (over C$286 million) for a 24% stake in Formula 1 team Alpine Racing, which is owned by the Renault Group. Along with Reynolds, American actors Michael B. Jordan and Rob McElhenney are also co-investors with Maximum Effort Investments, which was involved in the transaction along with Otro Capital and RedBird Capital Partners.

The French F1 team, which currently ranks fifth in the constructors’ championship, says it places their value at around €900 million.

Reynolds and McElhenney famously bought Wrexham AFC in 2020, with the Welsh soccer team recently earning promotion to the English Football League for the first time in 15 years.

Reynolds was involved in a very public pursuit of the Ottawa Senators but has since dropped out of contention for buying the NHL team. His group was reportedly ready to bid $1 billion for the team.

“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi, who added that the new investors will boost the team’s media and marketing strategy.

RedBird Capital Partners has plenty of pro sports experience, too, working with teams like the Boston Red Sox and Dallas Cowboys in North America, as well as soccer teams in Europe such as Liverpool, Toulouse, and AC Milan.

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