Ryan Reynolds' foray into the sports world continues with his latest investment through his firm Maximum Effort Investment, and this time, he's off to the races.
Alongside partners and fellow actors Rob McElhenney and Michael B. Jordan, he will join private equity firm RedBird Capital Partners and Otro Capital in purchasing a 24 percent stake in a French Formula 1 race team.
The group is paying a whopping $218 million for stake in the F1 team Alpine, owned by the Renault Group, with their valuation now rising to an estimated $900 million.
The Alpine team debuted at the 2021 Formula One World Championship and has since slowly risen up the ranks, ending the 2022 season in fourth place. They are led by racers Pierre Gasly and Esteban Ocon.
Alpine CEO Laurent Rossi released a statement on Monday saying: "This association is an important step to enhance our performance at all levels.
"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."
It's another high-profile foray into the competitive world for the 46-year-old Canadian actor, who is co-owner of the Welsh football club Wrexham A.F.C. with Rob.
Their journey with the club was documented in the FX series Welcome to Wrexham, which chronicles their journey to a league promotion, which they did ultimately achieve as champions of the 2022-23 National League.
Back in May, Ryan was also involved in a bidding war over the purchase of the Ottawa Senators franchise with none other than Snoop Dogg through the Remington Group, of which he is a member.
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However, his bid ultimately did not move forward for the Canadian team which is now expected to go to Toronto billionaire Michael Andlauer for a 90% stake, reportedly for a sum of $950 million.
These only add to his insane net worth of around $350 million, according to CelebrityNetWorth.com, thanks to his prolific work on screen as the star of blockbusters like the Deadpool franchise, The Proposal, and The Croods franchise.
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As a businessman, his value hiked considerably after Mint Mobile, which he owned a reported 25 per cent of, was sold to telecom giant T-Mobile for $1.35 billion in March.
The deal likely pocketed him around $300 million and followed on from the successful sale of his ownership stake of Aviation Gin in 2020, which he reportedly sold to Diageo for about $600 million.