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$218,000,000 License to Kill Allows Alpine to Recruit Mattia Binotto & Initiate Ambitious F1 Plans

Published 08/12/2023, 11:30 AM EDT

The month of June 2023 brought a turning point for Alpine, as they embarked on a mission to transform their fortunes but the turning never stopped. Laurent Rossi had voiced his frustration about the team’s lackluster development at the beginning of the F1 season. Fast forward to now, and the French team is poised for a revolution. In a press release that reverberated, Alpine revealed that three heavyweight investment parties – Otro Capital, RedBird Capital Partners, and Maximum Efforts – have joined forces, collectively pouring a remarkable $218 million into the team.

These investors, they’re no ordinary backers. Their stakes amount to a substantial 24% share within the team. Their investments have a dual purpose: nurturing Alpine’s growth trajectory and fueling their sporting ambitions. Following this huge cash influx Against the backdrop of Spa-Francorchamps’ Luca De Meo shook the upper management of the Enstone team. The likes of Otmar Szafnauer (team principal), Alan Permane (sports director), and Pat Fry (technical director) were swept away. Now Mattia Binotto, who is on a gardening leave from Ferrari is poised to step into the role of team principal. But this wasn’t random; it was a thought-out plan.

An investor group that includes RedBird Capital, Ryan Reynolds, Rob McElhenney & Michael B. Jordan has purchased a stake in the Alpine Formula 1 team.
• 24% stake
• $218 million invested
The deal values Alpine's F1 team at $900 million.
And it brings (more) star power to F1. pic.twitter.com/mpK2VEVhvr
— Joe Pompliano (@JoePompliano) June 26, 2023

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According to the Italian edition of Motorsport.com, amid the whirlwind of change that swept through Alpine’s world, there’s a hidden current that guided the tide. The trio of investors, Otro Capital, RedBird Capital Partners, and Maximum Effort Investments emerged as the silent architects of transformation, Gerry Cardinale, seized the opportunity to align his financial might with the aspirations of Luca De Meo.

These investors echoed De Meo’s vision, they lent unwavering support to the dramatic actions unfolding, a testament to their belief in Alpine’s potential to catalyze transformation and the whispered potential of Mattia Binotto and the ambitious plans of “French Ferrari,” all because of this alliance.

Toto Wolff Rips Alpine Apart by Exposing Foolish Mistake

With key figures leaving and Binotto’s potential arrival, Alpine’s story is changing. A former Renault test driver shares the sentiment with De Meo as he sheds light on the decision to bid farewell to familiar faces at the Enstone squad.

A critical lens on Alpine’s upheaval

Franck Montagny, who once revved up for Renault as a test driver, offers a candid perspective on the recent shake-up at Alpine. Montagny doesn’t hold back in his assessment of Alan Permane, whose decades-long stint with the team came to an end. From Montagny’s vantage point, Permane’s presence seemed to generate more discord than harmony. The former test driver points to Permane’s past relocation from the race team to the test squad, a move that, according to Montagny, “tired everyone out.” This experience from over a decade ago paints a less-than-flattering picture of Permane’s influence within the team.

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Montagny’s perspective also delves into the performance of Alpine’s cars over the years, under different identities like Renault and Lotus. He laments that the team’s performance has remained relatively stagnant for half a decade, with a consistent narrative of aiming for points and occasional podiums but failing to evolve significantly.

As Alpine strives to climb the Constructors’ Championship ladder, Montagny’s perspective serves as a reminder that change, while challenging, can be a necessary step toward progress.

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What are your thoughts on Alpine and Mattia Binotto’s collab?

WATCH THIS STORY | Ryan Reynolds & Rob McElhenney Invested $0 to Acquire 24% Stake in Alpine F1 as Wrexham Masterplan Continues to Pay Dividends

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Written by:

Vidhita is an F1 writer at EssentiallySports. Driven by her deep passion for motorsports and a love for the exhilaration of speed. Since 2016, she has been captivated by the world of F1 after watching a race with a relative, and her fascination has only grown stronger over the years.

Edited by:

Aishwary Gaonkar

$218,000,000 License to Kill Allows Alpine to Recruit Mattia Binotto & Initiate Ambitious F1 Plans

A critical lens on Alpine’s upheaval

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