The deal announced by Alpine in the summer with a number of US investors has now been completed – 24 percent for 200 million US dollars
The sale of a stake in Alpine’s Formula 1 team to a group of US investors has officially been completed. In June, it was announced that Otro Capital had acquired a 24 percent stake in Alpine Racing Limited for 200 million US dollars – a deal that valued the Enstone-based team at around 900 million dollars
This transaction has now been completed and as part of the deal, Otro co-founder Alex Scheiner was recently appointed a director of the team.
Otro’s partners in the transaction are RedBird Capital Partners and Maximum Effort Investments, with the latter led by Hollywood star Ryan Reynolds. Reynolds also brought fellow actor Rob McElhenney into the project following their successful investment in Wrexham Football Club.
In October, Otro announced that a group of sporting legends were also behind the investment, including golfer Rory McIlroy, boxer Anthony Joshua, footballers Trent Alexander-Arnold and Juan Mata, and NFL legends Patrick Mahomes and Travis Kelce. Some of them have already taken part in Formula 1 races as guests of the team.
Alpine hopes that the new partners will help to raise the team’s profile in the USA and establish contacts with potential future sponsors. The commitment of the investors is also seen as a strong commitment to the future of the team.
“What they bring is an initial trust in the project, which is very important,” said interim team boss Bruno Famin when asked what the investors have contributed.
“When you have people investing a lot of money in a company, it means that people have confidence and believe that the project will work. That’s the first thing, and we’re very happy about that,” says Famin.
“And the second thing they bring, which is also very important, is that they are very strong and have very good contacts with potential partners and sponsors, and they will help us in this area.”
Famin says that the team has benefited from the contract right from the start: “It’s already in place. Of course, we’re not seeing the fruits yet because it takes a little time, but it’s already in action. There has been no delay and everything has been working from the first day the deal was signed.”
In addition to Scheiner, Philippe Krief, CEO of Alpine Cars, and General Counsel Michaell Smith have also recently joined the team’s board of directors.
