Wrexham owners expand growing sport portfolio with latest £171m investment

26 June 2023 , 07:53

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Ryan Reynolds and Rob McElhenney have added to their sporting investments (Image: Getty Images)

Wrexham owners Ryan Reynolds and Rob McElhenney are part of an investor group which will take up a 24 per cent equity stake in Formula 1 team Alpine.

The French team, whose parent company is Renault, announced on Monday that the two Hollywood stars were investing alongside Otro Capital and RedBird Capital Partners in a £171m deal, which values Alpine at roughly £706m. Esteban Ocon and Pierre Gasly, two Frenchman, drive for the team who are currently fifth in this year's constructors' championship.

Two years ago they won their first race since being rebranded as Alpine as Ocon took victory in Hungary. The outfit's chief executive Laurent Rossi said the investment would "boost" their media profile whilst also adding: "This association is an important step to enhance our performance at all levels."

F1's profile continues to grow at a rapid rate. Earlier this season at the Australian Grand Prix the sport recorded its highest ever attendance and the increased interest means the sport will head to the US on three separate occasions, including for the inaugural Las Vegas Grand Prix.

Reynolds and McElhenney have become best known for their efforts at the Racecourse Ground with Wrexham, once again, a Football League club. They won promotion from the National League after a titanic battle with Notts County as both teams amassed over 100 points.

Ryan Reynolds mispronounces name of new Wrexham signing in hilarious video

The duo have immersed themselves in the Welsh community and, as a result, won the hearts of the locals as they continue to push forward with their plans. No time scale has been put on their ambition to make the Premier League, but they are the lofty goals being set.

Alpine are currently fifth in this year's championship (Getty Images)

Wrexham are gearing up for the League Two season but are finding new signings hard to come by. Manager Phil Parkinson already has a star-studded squad as he seeks new talent that will improve their chances of a second successive promotion.

He has said: "We're in a strong position, and as every manager will say, you always want to add some quality into what you've already got. However, I feel the squad as it stands is a strong one and I'm looking forward to seeing a lot of the lads develop with the team next season."

Reynolds and McElhenney's investment in F1 has seen them team up with several groups that already have a major interest in football. US investment firm RedBird is an investor in Fenway Sports Group, who own Liverpool and the Boston Red Sox baseball team.

RedBird bought Italian Serie A club AC Milan in August 2022 in a 1.2bn euro deal and also has a controlling stake in French Ligue 1 side Toulouse.

Samuel Meade