Report: Alpine F1 team in RedBird Capital investment talks

Deal for minority stake could be unveiled as early as next week, according to Bloomberg.
  • RedBird exploring minority stake in Enstone-based team
  • Deal could be announced as early as 26th June
  • Agreement far from a foregone conclusion, co-investors not ruled out

The Alpine Formula One team have entered investment talks with RedBird Capital Partners, according to Bloomberg.

Talks over the US-based firm buying a minority stake in the Renault-owned outfit reportedly could be finalised as soon as 26th June, the date Alpine is scheduled to host an event at its base in Enstone, UK.

However, citing sources familiar with the negotiations, Bloomberg reports that the deal is far from a foregone conclusion and that it may not be finalised. Bloomberg also said the possibility of co-investors has not been ruled out.

Under the mooted deal, RedBird would assist the team with the expansion of its global Formula One business, including media rights, sponsorship and content creation.

Renault chief executive Luca de Meo changed the Formula One team name from Renault to Alpine before the 2021 season in the hope that it would promote the French manufacturer’s sportscar brand. Any investment would be tied to the pursuit of that ambition, falling under de Meo’s ‘Renaulution’ strategy.

Part of this framework will see the Alpine sportscar brand become fully electric by 2026, which doesn’t make the synergies with Formula One immediately apparent, especially as the global motorsport series will be shifting to renewable race fuel that year.

RedBird has had no direct involvement in motorsport before, but the rising popularity of Formula One – especially in the US – means the potential capital gains are hard to ignore for a sport that is still yet to stage its Las Vegas race.

The seasoned investment firm already owns Italian soccer giants AC Milan, purchasing the club in a deal valued at €1.2 billion (US$1.3 billion), as well as a minority stake in Indian Premier League (IPL) cricket team the Rajasthan Royals.

RedBird also has stakes in Fenway Sports Group (FSG), which owns Major League Baseball (MLB) team the Boston Red Sox and English soccer side Liverpool, and US spring football league the XFL.

Share

Related content