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    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

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    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

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    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

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    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

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    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

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    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

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Ryan Reynolds Joins Investors Buying $218M Stake in Alpine Formula 1 Race Team

June 26, 2023
in Entertainment
Ryan Reynolds Joins Investors Buying $218M Stake in Alpine Formula 1 Race Team
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Hollywood star Ryan Reynolds is broadening his business interests in the sports world.

The actor’s investment firm, Maximum Effort Investments — whose other backers include actors Rob McElhenney and Michael B. Jordan — is teaming up with private equity firm RedBird Capital Partners and Otro Capital to buy a 24 percent stake in the Alpine Formula 1 Race Team. The partners are paying the team’s owner, Renault Group, about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million.

The deal continues a trend of soaring valuations for sports rights, whether mainstream or formerly niche, as legacy media companies and tech giants alike vie for the value of eyeballs-attracting live events.

The partners said the deal would help accelerate Alpine Racing’s growth plans and visibility. Interest in Foruma 1 has soared in the U.S. in recent years — in no small part thanks to the popularity of Netflix’s 5-season docuseries Drive to Survive, which chronicles the sport both on and off the track.

Alpine is a mid-level team that has been on the rise in recent years. In the 2022 season, it finished fourth out of ten teams. Led by French drivers Pierre Gasly and Esteban Ocon, Alpine currently sits fifth in the 2023 Constructors’ Championship standings.

“This association is an important step to enhance our performance at all levels,” said Alpine CEO Laurent Rossi in a statement on Monday. “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.”

Reynold’s first foray into sports ownership came in November 2020 when he and McElhenney teamed up to buy Welsh soccer club Wrexham AFC. They went on to create bankable content out of that experience — while also elevating their team’s profile — with doc series Welcome to Wrexham, which airs on FX. The duo undeniably have helped rejevenate the team, which earned a promotion back into the English Football League for the 2023 season for the first time in 15 years.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : HollywoodReporter – https://www.hollywoodreporter.com/business/business-news/ryan-reynolds-alpine-formula-1-stake-deal-1235523696/

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