The Alpine F1 team now has two high-profile celebrity investors.
“The transaction values Alpine Racing Ltd. around $900 million following this investment,” the team said in a statement. “It will accelerate Alpine’s growth plans and sporting ambitions in F1.”The Hollywood Reporter
. It finished fourth out of 10 teams during its 2022 season and is led by French drivers Pierre Gasly and Esteban Ocon. “Formula 1 and Alpine are strategic assets for Renault Group,” Renault Group CEO Luca de Meo said in a statement. “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.
Formula 1 has seen a surge in popularity in the United States following its sale to Liberty Media in 2017. One major factor in its rise was the hit Netflix documentaryThe TimesReynolds first entered sports team ownership in November 2020 when he and McElhenney purchased Welsh soccer club Wrexham AFC. He even
to be closer to his investment. The team experienced a subsequent surge in fame thanks to its new celebrity backers, as well as a popular Disney+ docu-series,, detailing the team’s happenings. During the 2023 season, the team managed to get promoted back into the English Football League for the first time in 15 years.
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