The Alpine Formula 1 team has sold 24 percent of its shares to an investment group led by RedBird Capital Partners, Otro Capital and Maximum Efforts, with actor Ryan Reynolds as a co-owner. The sale of the shares will generate 200 million euros for the French team, as reported by BNN Bloomberg, bringing the total value of the team to over 800 million euros.
This is notable because earlier this year the AlphaTauri team reportedly received a takeover bid of 800 million dollars (approximately 733 million euros), which they rejected. Additionally, Formula 1 CEO Stefano Domenicali stated earlier this month that teams had received bids close to a billion and turned them down. RedBird Capital Partners is already active in the sports sector and was involved in the acquisition of AC Milan last year, among other deals last.
So Alpine did choose to sell part of the team, even though the values of Formula One teams have been rapidly increasing in recent years. The investment group is expected to help Alpine pursue further sporting ambitions. The Alpine engine factory, owned by Renault, is not part of the sale and remains fully owned by the French manufacturer.
Criticism of the Alpine
The CEO Alpine's Formula 1 team, Laurent Rossi, previously expressed criticism of the team's performance with drivers Esteban Ocon and Pierre Gasly earlier this season, following the Azerbaijan Grand Prix. In the subsequent races, Alpine has performed well, including a third-place finish in Monaco for Ocon. The French team appears to be heading for a fifth position in the Constructors' Championship. Alpine finished fourth last year, but Aston Martin has made significant progress in their bid to reach the top this year.
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