F1 News: Alpine completes €200 million stake sale Otro Capital
Renault Group and Alpine announced the closing of the investment by Otro Capital of €200 million in Alpine Racing Ltd (based in England), announced on June 26, 2023.
Otro has bought a 24% equity stake, to support Alpine’s growth strategy and sporting ambitions in Formula 1. Alec Scheiner, co-founder and partner of Otro Capital, has joined the Alpine Racing Ltd board.
The transaction values Alpine Racing Ltd at around $900 million following the investment, allowing Alpine to develop its Formula 1 image globally across media, sponsorship, ticketing, hospitality, commercial rights management, licensing and merchandising.
On 17 October 2023, Otro Capital announced the arrival of international and championship-winning athletes and sports investors in its investor group which includes RedBird Capital Partners and Maximum Effort Investments. The inclusion of these premier investors strengthens Otro’s strategic partnership with Alpine F1, combining leading expertise in different areas of the sport’s ecosystem and enabling Alpine F1 to reach new fans:
- Patrick Mahomes: Kansas City Chiefs quarterback, two-time NFL MVP and two-time Super Bowl MVP.
- Travis Kelce: Kansas City Chiefs tight-end, eight-time consecutive NFL Pro-Bowl and two-time Super Bowl champion.
- Rory McIlroy: four-time golf major championship winner and currently ranked #2 in the world. Rory invested through Symphony Ventures Capital, a partnership that supports innovative companies in healthcare, technology, and sports.
- Anthony Joshua: Olympic boxing gold medalist and two-time former unified world heavyweight champion.
- Trent Alexander-Arnold: England international soccer player, Champion’s League Champion, and Premier League Champion with Liverpool F.C. (UK).
- Juan Mata: Professional football player, World and Euro Cup winner with the Spanish National team. Ex-Manchester United and Chelsea player. Co-Founder of the organization, Common Goal.
- Roger Ehrenberg: founder of Eberg Ventures, investor in the Miami Marlins and Real Salt Lake.
About Otro Capital
Otro Capital is an operator-founded private investment firm focused on sports, media, gaming, and entertainment, targeting under-monetized and often under-valued assets. The Otro team, led by Alec Scheiner, Brent Stehlik, Niraj Shah, and Isaac Halyard, has operated and invested in the sports ecosystem for the last twenty-five years. Otro targets investments that share three common factors (i) a differentiated access via a network of sports operators and owners, (ii) valuable intellectual property and (iii) an ability to add value via company building experience and direct operational expertise.