Months After Successful Acquisition of AC Milan for $1,300,000,000, Rampant LeBron James & Co Take Over F1 With Revolutionary Investment in Alpine

F1 is the fastest-growing sport in the world. All the visionaries are looking to make investments in the sport. Billionaire Lawrence Stroll already owns a team. Elon Musk and Jeff Bezos were spotted at the Miami GP in Red Bull and McLaren garages. Now, LeBron James and Co. are taking over F1 with a significant investment in Alpine months after their successful acquisition of the heritage Italian Club AC Milan. Let’s see how things when down. 

LeBron James and Co. recently acquired the AC Milan Football Club. The Basketball legend is a partner at the RedBird capital firm. The investment was made last year in August which saw RedBird Capital takeover the club for $1.3 Billion. Since the Acquisition, AC Milan reached the Semi-Finals of the Champions League for the first time since winning it in the 2006/07 season. The net worth of the club has increased to $1.4 Billion according to Forbes. This suggests that LeBron James and Co’s net worth increased by $100,000,000.

After the successful investment in football, RedBird now knocks on the door to make a fortune in Formula 1. The investment firm along with Ryan Reynolds recently invested $218,000,000 in Alpine, acquiring a 24% equity stake in the team. The French Team is valued at $900 Million. Alpine has shown good promise ever since being rebranded from Renault and aims to challenge for the championship.

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Only time will tell if the investment was a success or not. However, with F1 being the fastest-growing sport in the world, things look on the positive side. RedBird over the years has made multiple sports-based investments.

LeBron James and Co’s sports-based investment over the years

As we mentioned earlier, RedBird acquired AC Milan last year. However, they’re not the only sports investment made by the group. The firm has total assets of over 8.6 Billion dollars. Liverpool struggled with COVID, incurring losses of around £120 Million. RedBird stepped in and made an investment in Fenway Sports Group, which owns Liverpool. Fenway Group also owns the Red Sox. Not only that, RedBird explains how India is a huge sports market and has a 15% stake in the IPL team, Rajasthan Royals. 

And it’s not limited to only sports teams. Dream Sports, which owns Dream 11, which is a fantasy sports app, is owned by the RedBird group too. According to RedBirdcap.com, RedBird’s Gerry Cardinale said, “Sports as an asset class has outperformed most public stock indices over this period. This has resulted in more passive, asset management-oriented capital jumping in to capitalize on this seemingly always upwards trajectory.”

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Will RedBird make a profit with Alpine?