Renault announces major changes to Alpine

french group Renault announced on Monday that it has completed the transfer of 24% of the capital in its F1 brand Alpine. The investment was made for 200 million euros in a fund group led by Otro Capital, which specializes in investing in sports businesses.

The investment will allow Alpine to develop its F1 image on a global scale. and in areas such as media, sponsorship, ticketing, accommodation, commercial rights management, licensing and merchandising,” the French automaker said in a statement.

Alec Scheiner, co-founder and associate at Otro Capital, will join Alpine’s board of directors. The value of this operation is approximately “900 million dollars”emphasized the French builder.

Renault also highlighted that last October, Otro Capital announced that it had added “international athletes and sports investors” to its investor group, including Redbird Capital Partners and Maximum Effort Investments. did.

These include American football stars Patrick Mahomes and Travis Kelce, former Spanish soccer player Juan Mata and British golfer Rory McIlroy.

”The arrival of these important investors strengthens the strategic partnership between Otro and Alpine F1“We will combine our experience in different areas of the sports ecosystem and enable Alpine F1 to reach new fans,” Renault stressed.

The operation, which ended this Monday, was announced by Renault and Otro Capital in June last year.