Ryan Reynolds Buys Stake in F1 Racing Team, Growing His Business Empire
He joined investors like actor Michael B. Jordan in buying a 24% stake in the Alpine F1 team
3 min
Actor and entrepreneur Ryan Reynolds is expanding his business empire into Formula One racing.
Reynolds and a group that includes celebrity American investors, such as his business partner and fellow actor Rob McElhenney, are buying a 24% stake in the Alpine F1 team for about $218 million, the team’s owner said Monday.
F1 races have become more popular in the U.S. in recent years, with celebrities packing into stands to watch drivers speed around a track. Alpine, a mid-tier team based in the U.K., is one of 10 F1 competitors.
The investors are buying a stake in Alpine Racing Ltd, the parent company of the Alpine team, according to Renault Group, a French auto manufacturer and the team’s owner. Renault said the new investors would bring expertise in marketing, merchandising and other areas.
The deal values the racing team at around $900 million, Renault said.
Reynolds, 46 years old, has long been a Hollywood star, with leading roles in comedy, action and rom-com films. He has used his marketing savvy to build an off-screen empire, purchasing stakes in the gin brand Aviation, the cell phone company Mint Mobile and a Welsh soccer team. T-Mobile US agreed to buy Mint Mobile earlier this year for about $1.35 billion and Diageo agreed in 2020 to pay as much as $610 million to acquire Aviation.
Reynolds started the production company and marketing agency Maximum Effort, named after his character’s catchphrase in the “Deadpool” movie franchise.
Alpine’s new investors include the actor Michael B. Jordan and private investment firms Otro Capital and RedBird Capital Partners. The firms have been affiliated with sports teams including the Dallas Cowboys and the French soccer club Toulouse FC.
Maximum Effort and representatives for Reynolds didn’t immediately return a request for comment. Representatives for Jordan declined to comment.
Reynolds and McElhenney are involved with another sports team, Wrexham AFC, a low-tier soccer club in North Wales that they bought in 2020. They chronicled their takeover of the struggling team and efforts to transform it in a 2022 FX docuseries, “Welcome to Wrexham.” The club this spring won a promotion out of the lowest tier of English soccer to the second-worst league.
The Alpine F1 team is featured in the Netflix series, “Formula 1: Drive to Survive,” which has drawn American fans to the sport since the show premiered in 2019.
F1 teams compete in many races each season. Several drivers represent each team and race in solo, aerodynamic cars.
The Alpine team has existed under different names for more than four decades. Renault renamed the team Alpine in 2021 after the company’s sports car brand, Société des Automobiles Alpine SAS. The team placed fifth and fourth out of 10 teams in 2021 and 2022, respectively.
Laurent Rossi, the chief executive of the Alpine team and the sports car brand, said in a statement Monday that the team wanted to catch up with top squads and invest in state-of-the-art facilities and equipment.
“This association is an important step to enhance our performance at all levels,” Rossi said.
Alpine said Monday that it aimed for its sports car brand to break even in 2026 and to generate more than $8.7 billion in revenue in 2030.
The team is based in the English village of Enstone, about 60 miles northwest of London.
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This agreement aims to foster the development of robust partnerships between the communities of both regions.
4 min
The Australian Chamber of Commerce and Industry has recently signed a Memorandum of Understanding (MoU) with the Dubai Chambers, marking a significant step towards enhancing cooperation and strengthening economic and trade relations between Dubai and Australia. This strategic agreement aims to foster the development of robust partnerships between the business communities in both regions.
In today’s interview, we will delve with Mr. Lyall Gorman, Vice President of the Australian Chamber of Commerce and Industry, into the objectives and anticipated impacts of this MoU, explore the key initiatives and projects that will arise from this collaboration, and discuss the potential challenges and strategies for overcoming them.
We will also look into how this agreement aligns with the broader strategic goals of the Australian Chamber of Commerce and Industry and the future of trade relations between Australia and the Middle East.
Can you give us a brief overview of the MoU signed with the Dubai Chamber? What are the main objectives?
The MoU we signed is designed for the two chambers to collaborate for mutual benefit and interest, focusing on business-to-business interactions. We are currently exploring opportunities around delegations, information sharing, trade, commerce, and e-commerce. The main goal is to bring businesses together in a structured manner to share ideas and encourage positive outcomes.
This partnership aims to increase the understanding of each other’s economies, recognize opportunities in each other’s regions, and work together to create mutual benefits. By doing that, we hope to enhance the economic ties between Dubai and Australia, leveraging each other’s strengths to create a more dynamic and prosperous business environment.
How do you see this MoU impacting trade relations between Australia and Dubai in the short and long term?
In the short term, we are expecting to generate a significant increase in awareness. By sharing information, data, and demographic insights, we will gain a better understanding of each other’s economic environments. This will help us identify existing opportunities for collaboration and potential mutual investment. From a trade perspective, we anticipate increased exports from Australia to Dubai and vice versa. This could include areas such as disruptive technology, medical research, education, construction, and agriculture—sectors that are currently emerging and critical.
In the long term, this enhanced understanding and collaboration will allow us to identify and capitalize on more opportunities. It’s about recognizing what’s happening in each other’s regions, understanding potential opportunities, and working together to create economic value. By fostering a deeper economic connection, we aim to create sustainable growth and mutual benefits over time.
What sectors or industries do you see as the primary beneficiaries of this partnership?
There are several mutual opportunities we aim to explore. Dubai has evolved incredibly over the last 20 years, achieving remarkable growth. However, there are still areas where further cooperation can drive growth. Some of the key initiatives will focus on sectors such as AI, digital disruptive technologies, smart technologies, financial services, education, construction, and advanced technologies.
Australia is highly regarded for its building codes and manufacturing capacity, especially in the construction sector. Additionally, I believe food security presents an interesting opportunity. As a major exporter of meat and other food products, Australia can contribute significantly to food security discussions, which is particularly relevant for Dubai.
Education is another area with significant potential for collaboration. By exploring these sectors, we aim to implement projects that not only address current challenges but also pave the way for sustainable development and innovative solutions in both regions.
What challenges do you foresee in the implementation of this MoU, and how do you plan to address them?
The cultural differences can impact how business is conducted, and this requires careful navigation. To address this, we need open and transparent communication, fostering a spirit of collaboration and mutual respect. It’s essential to have a genuine desire to embrace each other’s cultural differences and find common ground.
Another potential challenge is ensuring that both sides fully understand and adapt to each other’s regulatory environments and market dynamics. Dubai has matured significantly into a global business and corporate hub, which helps, but there are still differences to consider.
By prioritizing understanding and respect, and committing to ongoing learning from each other, we can effectively manage these challenges. Working together in a considerate and respectful manner will be crucial in overcoming any hurdles that may arise during the implementation of this MoU.
How does this MoU align with ACCI’s broader strategic goals for international trade and collaboration?
This MoU aligns closely with ACCI’s broader strategic goals by emphasizing the importance of fostering and diversifying economic partnerships on a global basis. The current global geopolitical situation has underscored the need for diversifying our supply chains and business relationships.
From an Australian perspective, the lessons learned during the COVID-19 pandemic and the evolving geopolitical environment have further highlighted the necessity of expanding our economic partnerships.
The Middle East, including the GCC, are regions where Australia already has strong relationships that can be further strengthened. Therefore, by working together, collaborating, and sharing knowledge and forward-thinking ideas, this MoU will help us identify and shape initiatives that add value and align with our strategic goals for international trade and collaboration.
How do you envision the future of trade relations between Australia and the Middle
I believe it will become stronger, more robust, and more regular, all for mutual benefit. There is a genuine willingness between both regions to grow and expand this relationship through a partnership model rather than a transactional one. This approach involves setting short, medium, and long-term goals, fostering a thriving and enduring relationship.
We have already established a strong partnership with Dubai Chambers and maintain a good relationship with the Dubai International Chamber here in Australia, led by Sophia Demetriades Toftdahl. This aligns with our strategic goal of global diversification in business.
Additionally, we recently signed an MoU with the Qatar Chamber and are about to sign with the Abu Dhabi Chamber as well.
Engaging with Saudi Arabia also makes sense, as it is a significantly emerging country. The last few years under new leadership have brought clarity to its economic, political, and social future and a strong passion and drive to become a major player in the region and global stage
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
