Ryan Reynolds and Hollywood Investors Boost Alpine F1 Team
Actor Ryan Reynolds, RedBird Capital, and Otro Capital are among the investors buying a 24% stake in Renault's Alpine F1 Team for about €200m ($218m), valuing the team at roughly $900m. The deal is aimed at raising the visibility of Renault's Alpine electric vehicle line, as it pushes to have more than half its sales in EVs by 2030. Formula 1 has jumped in popularity in the US since its sale to Liberty Media in 2017, and the deal reflects growing US interest in the sport.