Ryan Reynolds backs Renault’s Alpine Formula 1 team
The manufacturer is aiming for more than €8 billion in revenue for the maker of the Alpine A110 sports coupe in 2030, including €1 billion fromThe deal sees Alpine gain access to a seasoned investor group. RedBird, which manages $8.6 billion of capital across sectors including sports, consumer and financial services, led a €1.2 billion takeover of AC Milan last year and also owns the French soccer team Toulouse FC.
For Reynolds, the move adds another sporting interest to his Maximum Effort Investments, after he and fellow Hollywood actor partner Rob McElhenney took control of UK soccer club AFC Wrexham in 2021. A frequent spectator at games, Reynolds saw the club's promotion back to the English football league this year.
Renault’s sale of a 24% stake in its Alpine racing team for €200 million highlights the value of a Formula 1 franchise, but the ambition to expand the Alpine brand to a seven-model range and a 10% Ebit margin on €8 billion revenue by 2030 appears overly optimistic vs. sales of only 3,546 units in 2022. Though the brand gained some notoriety in the 1980s, French automakers have yet to make meaningful inroads into the premium segment.
The Alpine team finished fourth in the Formula 1 standings last season. While driver Esteban Ocon came in third at the prestigious Monaco
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