F1 team complete €200m sale to US investor

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F1 team complete €200m sale to US investor

Alpine sold the 24% stake for €200m, putting the team's value at just over €800m

Anna Malyon

Monday 18 December 2023 15:57

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Alpine Formula 1 team have successfully finalised a €200m deal with US investors Otro Capital, securing a significant 24% ownership stake in the team.

Alpine, who secured sixth place in the 2023 constructors' championship, have been actively working to enhance its profile and establish new connections for potential future sponsorships.

In June 2023, it was announced that Otro Capital, driven by co-founder Alex Scheiner, would acquire a stake in Alpine Racing Limited. This move was made in collaboration with RedBird Capital Partners and Maximum Effort Investments, owned by Hollywood star Ryan Reynolds.

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Otro Capital announced in October 2023 that, in collaboration with Ryan Reynolds and Robert McElhenney, who achieved success with Wrexham football club, they would bring in additional superstar names to collaborate with Alpine.

The list features prominent figures such as golfer Rory McIlroy, boxer Anthony Joshua, footballers Trent Alexander-Arnold and Juan Mata, and NFL players Travis Kelce and Patrick Mahomes.

Alpine F1 Team have completed a 200 million euro sale to US investors

Ryan Reynolds and Robert McElhenney are in the Alpine project

Various names partnered with Alpine earlier in 2023

Alpine reaction

Interim Alpine boss Bruno Fahim discussed the significance of the new deal, emphasising its importance in attracting fresh attention to the team.

“What they are bringing is first trust in the project, which is very important,” said Fahim to Motorsport.com.

“If you have people investing a lot of money in your company that means that people trust and believe that the project will work. That's the very first thing, and we are very happy with that.

“And the second thing they will bring which is very important as well is that they are very strong and very connected to potential partners and sponsors, and they will help us on that field.

Fahim also mentioned that the deal has already been in progress and was recently completed.

"It's already in action,” Fahim added. “Now we don't see the fruit yet of course, because it takes a bit of time, but it's already in action. There was no delay, and everything is working from day one the deal has been done."