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Ryan Reynolds, Rob McElhenney among new investors in Formula One team

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Jun 26, 2023

Rob McElhenney and Ryan Reynolds. Photo: Alberto E. Rodriguez/Getty Images

Actors Ryan Reynolds and Rob McElhenney are among a consortium of U.S. investors buying a 24% stake in Alpine's Formula One racing team for €200 million.

Why it matters: Another day, another crazy-high valuation for a professional sports outfit.

Details: Reynolds is making his investment through his firm Maximum Effort, alongside RedBird Capital Partners and Otro Capital.

  • McElhenney and fellow actor Michael B. Jordan are the other investors.

The big picture: Formula One's popularity has skyrocketed in the U.S. over the last few years since Liberty Media bought the European racing league in 2017.

  • The league partnered with Netflix for its popular "Drive to Survive" docuseries, which has run for five seasons, as well as added Miami and Las Vegas to its Grand Prix circuit.
  • The sport's popularity has increased globally as well, so much so that Liberty Media has rejected overtures from Saudi Arabia's People's Investment Fund to buy the league.

Of note: Reynolds and McElhenney's joint ownership of Wales' soccer club Wrexham A.F.C. has boosted the profile and performance of the lower-tier club.

  • The duo's three-year stewardship of the club paid off this year, when Wrexham earned a promotion back into the English Football League for the 2023 season for the first time in 15 years.
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