Wrexham owners Ryan Reynolds and Rob McElhenney invest in Formula One team Alpine alongside RedBird

Wrexham owners Ryan Reynolds and Rob McElhenney are part of an investment group that have secured a 24 per cent stake in Formula 1 team Alpine.

Hollywood actors Reynolds and McElhenney completed their takeover of Wrexham in 2021 and led the club back to the Football League last season.

Alpine are fifth in F1’s constructors’ championship and have been seeking investment to close the gap on the leading teams.

Alpine’s parent company Renault have said the €200m (£171m) deal will value the team at around £700m.

Reynolds and McElhenney of Maximum Effort Investments have invested alongside Otro Capital and RedBird Capital Partners.

Alpine CEO Laurent Rossi said: “This association is an important step to enhance our performance at all levels.

“Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.

“The incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment.”

US investment firm RedBird are investors in Fenway Sports Group, which owns Premier League giants Liverpool and baseball team the Boston Red Sox.

They also bought AC Milan last summer and have a stake in Ligue 1 side Toulouse.

Alpine drivers Pierre Gasly and Esteban Ocon currently have 44 points this season.

They have secured one podium finish at the Monaco Grand Prix when Ocon came in third place.

Their highest finish outside of Monaco this season is eighth place.