Eddie Jordan: Financial model of Ryan Reynolds' Alpine F1 investment 'doesn't stack up'
- Rob Fleming
- 27 June 2023
Eddie Jordan was dumbfounded upon learning about Alpine's recent acquisition, which involved Hollywood sensation Ryan Reynolds.
Former Jordan F1 team manager, Eddie Jordan, was left astounded upon learning about Alpine's recent takeover, which involved Hollywood actor Ryan Reynolds.
RedBird Capital, along with Reynolds and actor Michael B Jordan, acquired a 24 percent stake in the Enstone-based Formula 1 team and its French automotive partners, bolstering the company's value to £700 million.
However, Jordan, who finds it hard to fathom how the fifth-best team in F1 could command such a price, labelled the deal as preposterous.
"I don't believe it," stated Jordan during an interview on GB News. "I won't use the term 'fake news,' but there is absolutely no way the financial model behind Ryan Reynolds and Rob McElhenney's investment in Alpine F1 team adds up.
"It's all very nice and very sexy to put these figures on things, but they need to be supported and authorized."
Notably, there has been no reaction from Alpine or its major shareholder, Renault, which Jordan finds peculiar. "To value something at a gross value of £700 million is preposterous," he emphasized.
"It's ridiculous because what does that then value someone like Ferrari or Mercedes or Red Bull? That's what I consider to be the value of those teams, and Alpine is not even close to that yet."
The Austrian Grand Prix, set to take place on Sunday, 2 July, at the Red Bull Ring in Spielberg, Austria, serves as an eagerly anticipated event for F1 enthusiasts.
‘I don’t believe it.’
— GB News (@GBNEWS) June 26, 2023
Eddie Jordan says the financial model behind Ryan Reynolds and Rob McElhenney’s Alpine F1 team investment ‘doesn’t stack up’, as the deal values the outfit at a ‘preposterous’ £706m.
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