Alpine Formula 1 team and US investors Otro Capital have closed a €200 million deal, granting the investment group a sizeable 24% ownership stake.
The Alpine F1 team has successfully sold a 24% stake in the team to a group of US investors for €200 million, as reported in June. Now the Enstone squad is officially valued at around $900 million after the conclusion of this deal.
Alpine, who finished sixth in the 2023 constructors’ championship, has been making a concerted effort to grow its brand and build new relationships in order to potentially secure sponsorships in the future.
Otro Capital, RedBird Capital Partners and Maximum Effort Investments helmed by Hollywood actor Ryan Reynolds, who owns Wrexham FC with fellow Alpine investor Rob McElhenney, make up the investment group.
Co-founder of Otro Capital Alec Scheiner has also become a director on the board of Alpine Racing along with general counsel Michaell Smith and CEO of Alpine Cars Philippe Krief.
In October, Otro disclosed that a number of athletes have joined its group of investors, including football players Juan Mata and Trent Alexander-Arnold, boxer Anthony Joshua, golfer Rory McIlroy and NFL greats Travis Kelce and Patrick Mahomes.
Bruno Famin, the principal of the Alpine team, expounded on the investment group’s involvement in the French team’s Formula 1 project.
“What they are bringing is first trust in the project, which is very important,” Famin said. “If you have people investing a lot of money in your company that means that people trust and believe that the project will work.
“That’s the very first thing, and we are very happy with that.”
Additionally, Famin stated that Alpine has benefited from the group’s cooperation from the beginning and that the deal was recently concluded.
“It’s already in action,” he added. “Now we don’t see the fruit yet of course, because it takes a bit of time, but it’s already in action. There was no delay, and everything is working from day one the deal has been done.”