Hollywood heartthrob Ryan Reynolds and fellow thespian Rob McElhenney are beefing up their burgeoning business portfolio with a foray into the world of Formula 1 racing. The Canadian actor’s …
The Canadian actor’s investment firm, Maximum Effort Investments, is joining private equity firm RedBird Capital Partners and Otro Capital to acquire a 24% stake in the Alpine Formula 1 Race Team.
“The transaction values Alpine Racing Ltd. around $900 million following this investment,” the team said in a statement.Other investors include actor Michael B. Jordan.Ryan Reynolds is expanding his investment portfolio — venturing into the world of Formula 1 racing.Reynolds’ investment firm is teaming up with private equity companies to buy a stake in the Alpine Formula 1 racing team.
Renault said Alpine Racing SAS, the entity manufacturing F1 engines in France, is not part of the transaction and will remain entirely owned by Renault Group.McElhenney is the creator of TV showReynolds and fellow actor Rob McElhenney are owners of the Wrexham soccer team in Wales.Reynolds and McElhenney completed a $2.5 million takeover of Welsh soccer team Wrexham in November 2020.
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