Shocking price Wrexham owners Ryan Reynolds and Rob McElhenney ‘paid for stake in F1 team Alpine’ revealed
WREXHAM owners Ryan Reynolds and Rob McElhenney acquired a stake in the Alpine F1 team for the reported sum of £171million.
The Hollywood duo were part of an investment consortium that agreed the deal earlier this week.
But they have not put any of their money towards the investment, according to the Daily Mail.
The funds have been provided by investment firms Otro Capital and RedBird Capital Partners, who now own 24 per cent of Alpine.
While Reynolds and McElhenney have not invested their money, they are expected to leverage their fame to increase revenue, which could include a documentary series akin to ‘Welcome to Wrexham’.
The owners have built Wrexham into a global brand, reflected by their US tour which will see them take on Manchester United and Chelsea this month.
The club also welcomed the world’s biggest airline, United Airlines, as their new shirt sponsor last month.
Alpine will hope to benefit from Reynolds and McElhenney‘s connections, with the former a savvy business outside of his acting work.
Reynolds, 46, had a stake in gin brand Aviation which sold for almost £500m in 2020.
He previously invested in mobile phone firm Mint, dating website Match Group, streaming company FuboTV and investment firm Wealthsimple.
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Alpine chief executive Laurent Rossi said of the investment: “This association is an important step to enhance our performance at all levels.”
Rossi says that the investment would “boost” Alpine’s media profile as well as support their “performance over the long term”.