Ryan Reynolds Has a Need For Speed

Ryan Reynolds alongside Michael B. Jordan and a larger investment group have just dropped NZ$359 million on a 24% equity stake in Alpine Racing. The F1 team has been gunning it since 2021 when it was spun out by Renault.

The transaction values Alpine Racing Ltd around $900 million following this investment, accelerating Alpine’s growth plans and sporting ambitions in F1.

Former F1 team owner Eddie Jordan spat tacks at the evaluation on GB News. “To value something of that level at a gross value of £700m – it’s preposterous. It’s ridiculous.”

“What does that mean for the value of people like Ferrari or Mercedes or a Red Bull for example? That is what I consider to be the value of those teams. Alpine – it’s just not even close to that yet.”
Luca de Meo, CEO of Renault Group is thirsty to see what the team can achieve. “Over the past two years, we have re-ignited Alpine, capitalising on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender.”

Alpine finished top 4 in the 2022 F1 World Championship, not shabby for such a new team. Renault is hoping the team breaks even by 2026.