ECONOMY Michael B. Jordan Buys Stake In Alpine Racing Alongside Other Celebrities, Deal Reportedly Brings The F1 Team’s Valuation To $900M AdminJune 29, 20230100 views Michael B. Jordan is continuing to make moves outside of Hollywood. According to CBS News, Otro Capital, RedBird Capital Partners and Maximum Effort Investments — which boasts notable investors including Jordan, Ryan Reynolds, and Rob McElhenney — purchased a stake in Formula 1 team Alpine Racing. The deal, reportedly worth $218 million, brings the team’s valuation to $900 million, Alpine revealed, according to People. “First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term,” explained Laurent Rossi, CEO of Alpine, according to CBS News. “Second, 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.” As for Jordan, this isn’t his first foray into team ownership. As AfroTech previously told you, Jordan was a part of Black Knight Football Club’s minority ownership group, which acquired AFC Bournemouth from former owner Maxim Demin in December 2022. Source link