Eddie Jordan SLAMS Ryan Reynolds and Michael B. Jordan’s ‘ridiculous’ $217 million investment in Alpine

Alpine F1 team hopes to challenge for the F1 World Championship in the upcoming years.

Eddie Jordan SLAMS Ryan Reynolds and Michael B. Jordan’s ‘ridiculous’ $217 million investment in Alpine

Ryan Reynolds (Credits: CNBC), Eddie Jordan (Credits: Planet F1) and, Michael B. Jordan (Credits: BuzzFeed)

Eddie Jordan, the former F1 team owner, has shared his thoughts on the deal that Hollywood mega stars Ryan Reynolds, Rob McElhenney, and Michael B. Jordan have signed with the Alpine F1 team. He sees the deal as preposterous and is not convinced by the numbers that have come forward regarding the overall value of the team.

The Alpine F1 team last year revealed their desire to accept outside investment in the team, but nothing happened back then. However, they have now signed a 24 percent stake deal with Ryan Reynolds and Co., who have managed to secure a deal with the help of Orto Capital and Red Bird Capital Partners.

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It is believed that Alpine was valued at €700 million during the deal, and while a lot has been said about it in the F1 paddock, Eddie Jordan, while talking about the same, he said, “I don’t believe it. First of all, I won’t use the word fake news, but I mean, there’s absolutely no way from an accounting point of view – the financial model doesn’t stack up. That’s number one.“

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“It’s all very nice and very sexy to put these figures on things but they need to be supported, and they need to be authorised. I noticed that there hasn’t been any reaction from Alpine or indeed from Renault, which is a major shareholder. And I find that in itself kind of strange. To value something of that level at a gross value of £700m – it’s preposterous. It’s ridiculous,” the former Jordan F1 owner said.

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Alpine wants to challenge for the F1 World Championship

Alpine (Credits: AutoSport)
Alpine (Credits: AutoSport)

While Eddie Jordan is left scratching his head after looking at the numbers that have come out regarding the 24 percent stake deal, Alpine needed a fresh injection of funds to maintain a certain level in F1 and, more importantly, to have a serious go at its ambitions at the pinnacle of motor racing.

Laurent Rossi, the Alpine CEO, has previously indicated that Alpine is currently on a 100-race plan to get to the front end of the F1 grid and challenge for wins and World Championships regularly. The new investment from Ryan Renolds and Co. is going to immensely help the team in improving its facilities and getting to the level of teams like Mercedes and Red Bull.

However, it is easier said than done, considering the progress that the teams around Alpine have made in recent years. Aston Martin is a prime example as they were languishing toward the bottom end of the grid last year, but fast forward to today, and they are mixing it up with the lights of Ferrari and Mercedes.

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