Actor Ryan Reynolds purchases stake in Alpine Formula 1 team

June 26 (UPI) -- Actor Ryan Reynolds is adding to his sports investment portfolio, joining a group for a 24% stake in Alpine, the Formula 1 racing team announced Monday.

Reynolds-led Maximum Effort Investments, Otro Capital and RedBird Capital Partners combined for the investment, which is estimated to be worth more than $200 million. The financial injection values the Enstone, England-based team at $900 million, Alpine said.

Actors Michael B. Jordan and Rob McElhenney are Reynolds' co-investors in the venture.

McElhenney and Reynolds partnered to purchase Wrexham AFC, one of the oldest professional soccer teams in the world, in 2020. The Wrexham, Wales-based franchise was promoted in April from the National League to League Two, the fourth level of English soccer.

Renault's engine division -- based in Viry-Chatillon, France -- is not part of the Alpine transaction and remains owned by the Renault Group.

"Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupe, boosting it by entering Formula 1, where it aims to become a championship contender," Renault Group CEO Luca de Meo said in a Formula 1 news release.

"This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value."

Alpine (44 points) sits in fifth place in the 2023 constructor standings, 277 points behind first-place Red Bull Racing (321). Mercedes (167), Aston Martin (154) and Ferrari (122) are the other Top 5 teams.

Alpine finished fourth in 2022 and fifth in 2021, 2020 and 2019, when known as Renault.

Red Bull Racing teammates Max Verstappen and Sergio Perez lead the driver standings, with 195 and 126 points, respectively.

Alpine's Esteban Ocon and Pierre Gasly sit in ninth and 10th place in the driver standings. Daniel Ricciardo finished fifth for Renault in 2020.

Renault rebranded as Alpine in 2021. Ricciardo, who joined McLaren that year, is now Red Bull Racing's third driver.

The Formula 1 schedule will continue this week with the Austrian Grand Prix. The ninth race of the season will be held at 9 a.m. EDT Sunday at the Red Bull Ring in Spielberg. The race will air on ESPN.

Verstappen won the last four Formula 1 races and totaled six wins this season. Perez won the other two events.