World-famous investors pump €200 million into Alpine Racing Ltd's speedy growth plan.
Renault Group and Alpine have announced a significant investment in Alpine Racing Ltd, the UK-based Formula 1 team. The investment, totalling €200 million, comes from a group of influential investors, including Otro Capital, RedBird Capital Partners, Maximum Effort Investments, Pritzker Private Capital, the Huntsman family, and Main Street Advisors.
James Toney, co-founder of Maximum Effort Investments, expressed his belief in Alpine Racing's potential for development, stating that the team has incredible potential for growth. Alec Scheiner, co-founder and partner of Otro Capital, will join the board of directors of Alpine Racing Ltd, bringing his expertise in the sports industry to the team.
The investment is expected to accelerate Alpine's growth strategy and sporting ambitions in Formula 1. The world-class team, currently ranked fourth in the 2022 World Championship, will benefit from the investor group's extensive experience in the sports industry, particularly in media, sponsorships, ticketing, hospitality, licensing, and merchandising strategy.
The conference announcing the investment will take place on June 26, 2023, during Renault Group's Alpine Future Tour. The event will be held in Enstone, UK, and will be attended by Luca de Meo, CEO of Renault Group, and Laurent Rossi, CEO of Alpine. The conference will provide insights into Alpine's strategy, and the event will be available for replay via a provided link.
Luca de Meo stated that the partnership will accelerate the development of Alpine F1 by diversifying revenue sources and increasing the brand's value. Laurent Rossi believes the alliance will strengthen the media and marketing strategy of the team.
It is important to note that Alpine Racing SAS, the entity that produces Formula 1 engines in Viry-Chatillon, France, is not part of the transaction and will remain entirely owned by Renault Group.
The investor group brings expertise in data and technology, key factors in marketing and commercial performance. The group also has experience in creating and developing businesses, such as its activities alongside the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC, and Wrexham AFC.
With this investment, Alpine Racing Ltd is valued at approximately $900 million. The team is poised to make significant strides in the world of Formula 1, backed by a powerful group of investors and a clear growth strategy.
