JUNE 26, 2023

Investment firm buying into F1 team Alpine

Renault is in talks with a private investment firm about selling a "minority" share in the Formula 1 team Alpine.

Renault is in talks with a private investment firm about selling a "minority" share in the Formula 1 team Alpine.

Alpine CEO Laurent Rossi caused major waves recently when he hit out at the Enstone and Viry-based team's questionable progress in 2023.

And now, Bloomberg claims team owner Renault is in talks with RedBird, a New York-based company whose partial Alpine acquisition could be made public in the UK as early as Monday.

Citing sources who are "familiar with the matter", Bloomberg said RedBird already owns "several European soccer teams" and would be involved in helping Alpine with "key revenue-generating activities" including media and sponsorship.

RedBird reportedly also has ownership stakes in the Boston Red Sox and led a more than $1 billion buyout of the top football club Ac Milan last year.

(GMM)