P1racenews AI automatic summary:
Alpine F1 team completes €200 million stake sale to US investors
In June, Otro Capital acquired a 24% share in Alpine Racing Limited for €200 million, valuing the Enstone company at around $900 million. The transaction has been completed, and as part of the agreement, Otro co-founder Alex Scheiner became a director of the team. The deal was made in collaboration with RedBird Capital Partners and Maximum Effort Investments, led by Ryan Reynolds and Rob McElhenney. Sporting legends such as Rory McIlroy, Anthony Joshua, Trent Alexander-Arnold, Juan Mata, Patrick Mahomes, and Travis Kelce are also involved in the investment. Alpine hopes that these partners will raise the team’s profile in the USA and attract potential sponsors. The investors’ involvement demonstrates their faith in the future of the team. Otro’s contribution includes trust in the project and their strong connections to potential partners and sponsors. The partnership is already in action and benefits are expected to come in time. Additionally, Alpine Cars CEO Philippe Krief and general counsel Michaell Smith have joined the team’s board.
