The investment firm RedBird Capital Partners is close to acquiring a stake in a Formula One team. RedBird Capital Partners owns 11 percent of Fenway Sports Group, the business that owns Liverpool.
The New York-based business RedBird acquired its ownership in FSG in March 2021 through a $750 million transaction. Since then, the company has grown, acquiring ownership of the Italian powerhouse AC Milan, the American XFL professional football league through a joint venture with Hollywood star Dwayne Johnson and his ex-wife and current business partner Dany Garcia, as well as stakes in organizations like the Rajasthan Royals of the Indian Premier League of cricket.
Bloomberg reports that RedBird is currently aiming for a minority ownership position in the Formula One team owned by Renault, Alpine. Toulouse, a French Ligue 1 team and Europa League contender, is another team that RedBird owns primarily.
Gerry Cardinale, the managing partner, founded the business, which currently manages assets worth over $8 point 6 billion across numerous industries. A move to acquire a stake in Alpine would occur at a time when F1’s popularity is growing on a global scale, thanks to its season-long showcase events that take place all over the world and draw sizable crowds and sponsorship, as well as the enormous success of the sport.
According to the Bloomberg report, there is no guarantee that talks between RedBird and Renault will result in a deal because no contract has yet been signed. If a deal is made, RedBird, a formerly active investor, will assist Alpine in growing its F1 business, media rights, and content creation.
Due to its recent success in acquiring the sports market, RedBird has been at the forefront of sports investment. The ECHO has previously reported that the company is not taking part in the ongoing investment search that FSG is conducting with regard to Liverpool.
The Alpine F1 team finished fourth the previous season behind drivers Pierre Gasly and Esteban Ocon, two well-known names in the “Drive to Survive” series.l
Ocon’s third-place finish at the Monaco Grand Prix last month was witnessed by Henry, the principal owner of Liverpool and the head of FSG. There was Henry’s spouse Linda Pizzuti Henry.