Ryan Reynolds is eyeing a new business venture!
The Hollywood hunk has reportedly expanded his business interests into the world of sports, teaming up with a private equity firm through his investment firm to buy several stakes in Formula One teams. The new investment comes just months after he sold one of his companies for over a billion dollars.
Ryan Reynolds Teams Up With Two Firms To Buy Stake Of Alpine
Instagram | Ryan Reynolds
Reynolds was not slow to make a breakthrough in the business world, as his investment organization, Maximum Effort Investments — backed by actors Michael B. Jordan and Rob McElhenney, moved to own part of the F1 team. The trio will join forces with private equity firms RedBird Capital Partners and Otro Capital to buy a 24% stake in the Alpine Formula 1 Racing Team.
The news was shared via F1’s official Twitter account with team owner Renault Group addressing the $218 million deal in a statement. “BREAKING: Hollywood actor Ryan Reynolds is part of investor group taking 24% equity stake in Alpine,” F1 tweeted readwhile Renault CEO Luca de Meo said in the statement:
“Formula 1 and Alpine are strategic assets for the Renault Group. Over the past two years, we have revived Alpine, leveraging the iconic A110 sports coupe, enhancing it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate the development of Alpine F1 by diversifying revenue drivers and increasing brand value.”
Elaborating on the acquisition, Alpine representative Laurent Rossi considered the “unification” an “important step” towards improving the team at all levels.
The counterpart added that the involvement of RedBird Capital Partners, Otro Capital, and Maximum Effort Investments as “international players with a strong track record in the sports industry” will provide them with “recognized expertise” to enhance “Alpine’s media and marketing strategy,” which important to “support the performance of our sport in the long term.”
“The additional income generated will then be reinvested in the team to further accelerate our Mountaineer plan, aiming to catch up with the top teams in terms of state-of-the-art facilities and equipment,” concluded Rossi.
People’s Choice Award-Winning Wireless Company Sold For $1.35 Billion
MEGA
As for Reynolds’ other ventures, it was revealed in March that T-Mobile intends to acquire Mint Mobile, one of several businesses with the “Deadpool” actor as an investor.
While the amount of shares he owns in the wireless company remains unknown, it was revealed that T-Mobile bought it for $1.35 billion. Speaking through a statement released by T-Mobile, the “No Good Deed” actor stated:
“Mint Mobile is the best offering in wireless and today’s news only enhances our ability to deliver to our customers. We’re very happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds because we believe the brilliance of their 5G network will provide a better strategic fit than my mom’s slightly above-average mahjong skills. I am very proud of the entire Mint team and very excited for what is to come.”
The announcement also detailed that the mobile phone company, which is America’s second largest, will drop a whopping $1.35 billion for Mint with a combination of 61% stock and 39% cash. Reynolds is expected to retain his creative role on behalf of the company as part of the acquisition deal.
Additionally, the “Fireflies in the Garden” leader, along with T-Mobile CEO Mike Sievert, released a brief video of the acquisition news to the public as part of their media announcement. The actor’s usual funny side is evident in the clip, appearing in one-liners like “It’s nice to have a new dad!”
This isn’t the first time the business-savvy Canadian-American has taken part in a hugely lucrative business deal in recent years. Back in 2020, the 46-year-old sold his American Aviation Gin to European drinks company Diageo as part of a tasty deal estimated to be worth $610 million.
According to the agreement, Reynolds, who is the creative director and co-owner of the alcohol brand and majority owner, Davos Brands, will retain an ongoing ownership interest in Aviation Gin despite the purchase. The MTV Movie & TV Award winner also co-owns Welsh football team Wrexham with McElhenney.
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Source: thtrangdai.edu.vn/en/
