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Hollywood Stars Invest in Alpine F1 Team and CBS Sports Acquires US Media Rights for Formula E

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Ryan Reynolds and Rob McElhenney Invest €200 Million for Stake in Alpine F1 Team

Hollywood stars Ryan Reynolds and Rob McElhenney have invested €200 million for a 24% stake in the Alpine F1 team. This investment, made through their Maximum Effort Investments, will help elevate the team's brand building and business operations. The surge of interest in F1 in North America, partly due to the success of the documentary _Formula 1: Drive to Survive_, makes this investment strategic.

Maximum Effort, led by Reynolds, is a production company and marketing agency known for its viral ads. Alpine Racing’s valuation has reached $900 million after the investment from Reynolds and McElhenney. Reynolds' involvement in other companies, including Wrexham FC and Aviation Gin, shows his interest in diverse business ventures.

CBS Sports and Roku Acquire US Media Rights for Formula E

CBS Sports and Roku have acquired the US media rights for Formula E, marking Roku's entry into live sports. CBS Sports will stream 11 races per season on the Roku Channel, starting from the 2024-2025 season. This deal is significant for Formula E as it increases their exposure in the US and among streaming audiences.

The acquisition of media rights for Formula E comes at a time when Hollywood's involvement in auto racing is on the rise. With Reynolds and McElhenney investing in Alpine F1 and the popularity of _Formula 1: Drive to Survive_, the racing industry is experiencing an intersection with Hollywood like never before.

References

mediagazer.com. (June 27, 2023). Roku and CBS Sports buy US media rights for Formula E; Roku plans to stream 11 races per season on the Roku Channel, its first foray into live sports (Alex Weprin/The Hollywood Reporter). mediagazer.com.
Ananya Bhattacharya. (June 26, 2023). Hollywood stars are entering the F1 circuit. qz.com.

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