Sport

Rory McIlroy and Trent Alexander-Arnold among new co-investors in the Alpine F1 team

Anthony Joshua, Juan Mata and Alexander Zverev among other sports stars to take €190m stake

Rory McIlroy has joined a team of co-investors from the world of sport in taking a €190m stake in the Formula One team Alpine. Photograph: Richard Heathcote/Getty Images
Rory McIlroy has joined a team of co-investors from the world of sport in taking a €190m stake in the Formula One team Alpine. Photograph: Richard Heathcote/Getty Images
Giles Richards
Tue Oct 17 2023 - 13:54

A group of high-profile sporting stars including Rory McIlroy, Trent Alexander-Arnold, Anthony Joshua, Juan Mata and Alexander Zverev have joined as co-investors in a $200 million (€190 million) stake in the Alpine Formula One team.

They join as part of the syndicate created by the Otro Capital group that includes the actors Ryan Reynolds, Rob McElhenney and Michael B Jordan. The syndicate bought a 24 per cent share of the team in June. Kansas City Chiefs players Patrick Mahomes and Travis Kelce have also now invested in Alpine as part of the Otro consortium.

Alexander-Arnold, Joshua, Mata and Zverev are participating as part of the Apex investment group. The value of their new co-investment in Alpine has not been disclosed but the Liverpool right back Alexander-Arnold felt Alpine and F1 were a strong combination to back.

“I am delighted to lead an investor group investing in Alpine F1,” he said. “The opportunity is very exciting, F1 is growing massively worldwide and I look forward to contributing to that growth. The sport brings together teamwork, pinpoint accuracy and innovation in a pressure-filled environment, these are aspects of my game we have in common.”

READ MORE

Apex, which is based in Portugal, already has connections to F1 having set up a $53.7 million (€50.95 million) investment fund, unrelated to the Alpine deal, earlier this year with backing from drivers Lando Norris, Carlos Sainz and Valtteri Bottas targeting business areas including sports-related technology and entertainment. The company has also invested in the TMRW Sports group, which was founded by McIlroy and Tiger Woods.

The investment indicates not only how the value of teams is now on a sharp upward curve but also how the popularity of F1 makes it an increasingly attractive proposition for financial backing. As part of the sale of stock in June, Alpine was valued at $900 million (€854 million) and with the grid currently limited to 10 teams, these figures are only set to increase.

The Apex group chief executive, António Cacorino, believes the growing appeal of F1 was making it a very sound financial asset.

“We have all seen growth in the sport over the last six or seven years and over the last two and three it has been really sustained growth,” he said.

“It has changed the sport for good, we believe F1′s momentum is here to stay and this was the perfect deal. F1 has gone beyond diehard petrolhead fans, it’s a sport for the masses. All over the world people are watching it and few sports have that.”

The athletes involved are expected to play a part with the team, not only in attending races but also to drive commercial strategies at Alpine using their experience from other sporting arenas.

“The chance to strategically invest in Alpine was an opportunity I couldn’t ignore,” said Joshua, a two-time former boxing heavyweight champion. “I am excited to start this journey with a great group of fellow investors and hope to help the team achieve its full potential.”

The team, which is based in Enstone in Oxfordshire, is still majority owned by the car manufacturer Renault and is named after their sports car brand.

They remain committed to returning to fighting for championships having, under the Renault brand, previously enjoyed success winning two drivers’ and constructors’ titles in 2005 and 2006 with Fernando Alonso. However, they have struggled to keep up with F1 Ferrari, Mercedes and Red Bull in recent times.

They have also undergone a series of management changes this year that has not inspired confidence. In July they sacked the team principal, Otmar Szafnauer, and the sporting director, Alan Permane. At the same time the chief technical officer, Pat Fry, left to join Williams.

They finished fourth in the constructors’ championship last season but require infrastructure investment to modernise and expand their facilities if they are to bridge the gap to the top. They are currently sixth this year, having been roundly overhauled by both McLaren and Aston Martin. Since the Renault team was rebranded as Alpine in 2021, they have managed one victory – Esteban Ocon’s win at the 2021 Hungarian Grand Prix – and three third-place finishes. – Guardian