The Alpine Formula One team has completed a €200 million agreement with US investors Otro Capital, securing a major 24% ownership position in the team.
Alpine, who finished sixth in the 2023 constructors’ championship, has been working hard to raise its brand and make new contacts for potential future sponsorships.
Otro Capital, led by co-founder Alex Scheiner, announced in June 2023 that it would acquire a share in Alpine Racing Limited. This move was done in partnership with RedBird Capital Partners and Maximum Effort Investments, both of which are controlled by Ryan Reynolds, the actor.
Otro Capital said in October 2023 that they will bring in further big names to partner with Alpine, in collaboration with Ryan Reynolds and Robert McElhenney, who were successful with Wrexham football club.
Golfer Rory McIlroy, boxer Anthony Joshua, footballers Trent Alexander-Arnold and Juan Mata, and NFL stars Travis Kelce and Patrick Mahomes are among others on the list.
Alpine reaction
Interim Alpine boss Bruno Fahim emphasized the new contract’s significance, emphasizing its role in attracting additional attention to the team.
“What they are bringing is first and foremost trust in the project, which is very important,” Fahim told Motorsport.com.
“If you have a lot of money invested in your company, it means that people trust and believe that the project will work.” That is the first and most important thing, and we are really pleased with it.
“The second thing they will bring, which is also very important, is that they are very strong and well-connected to potential partners and sponsors, and they will assist us on that front.”
Fahim further stated that the transaction was already in progress and was recently completed.
“It’s already in action,” Fahim said. “Of course, we haven’t seen the fruit yet because it takes time, but it’s already in action.” There was no delay, and everything has been operational since the transaction was completed.”
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