Posted on 10/17/2023 9:33:44 AM PDT by RummyChick
Patrick Mahomes, Travis Kelce and Rory McIlroy are part of a group which has invested €200 million ($210,970m) in the Alpine Formula One team.
In June this year the Renault Group confirmed it had sold a 24% stake in the Alpine grand prix team to a consortium of investors made up of Orto Capital, RedBird Capital Partners and Maximum Efforts Investments -- which included Wrexham FC owners Ryan Reynolds and Rob McElhenny.
(Excerpt) Read more at espn.com ...
And here it is.
The only thing I know about racing is that it really takes a lot of money. Those crashed cars are expensive.
Ryan trying to make magic with another one of his investments.
btw, Zverev has also invested. They are really trying to get sports stars across the spectrum to help promote
Is investing in a racing team just an ego thing or can they make money from it?
They say you can make a small fortune in the racing business. You just have to start with a large one.
Reynolds is trying to offload this pig. Renault sucks.
Ping.
F1 ping list.
Liberty Media played their hand correctly- they were desperate for more US involvement, added to more F1 races in America and got major athletes to invest. Too bad they didn’t throw the $$$ at Haas
You can make money and a lot of it. But look at the dollar amount they are starting with.
I just looked at the top teams in Nascar. Hendricks is listed as 350 million
https://www.sportsunfold.com/what-are-the-10-richest-nascar-teams/
It takes a lot of money and why you see many sponsorships on those cars
In this case maybe they are trying to use big names to then pull in sponsors. Taylor Swift is super hot right now. Having her show up to events increases the marketing. A lot of cross promotion marketing wheeling and dealing going on..
Worked out pretty well for Joe Gibbs.
it would be interesting to see what kind of money they are investing and what percentage they get for it.
Obviously Patrick Mahomes has much more money than Kelce. He gets paid more and has more branding deals. Although, Kelce is trying to expand. He invested in a Casa Azul.
Blake Lively is really good friends with Swift. I am not sure Ryan Reynolds is just trying to offload a pig (although that could be the case)
Travis Kelce:
Ms. Swift is writing his check.
My wife has a friend who is part of an IRS group assigned to our local NFL team. She has confided in me the team “has never shown a profit” on its tax reports - even though the stadium is always sold-out and NFL viewership is strong.
I assume the economics of F1 are similar to USA pro-sports. The teams do not make a lot of pro-forma profit (particularly when reporting taxes), but the real money is made on long-term appreciation of the team’s market value.
Too late to get in on SBF’s cool crypto scheme, I guess ...
Reminds me of how movies don’t make money and why actors want a piece of the gross not the net.
If I remember correctly, the Spelling Mansion was bought by the daughter of someone who was CEO of Formula 1 but then she sold it to some rich Saudi.
Tater Swuft is probably the other part of the owners of the teamn.
It’s an endeavor where $100 Million spent over a decade might cover your costs and get you another 1 or 2 mil profit for your troubles. With a good driver, great car, and superlative luck...
If I was Kelce I would be pumping Ryan Reynolds for ideas to find the gem that can later be sold for 1/2 billion. He seems to have a knack.
It is possible that some of them are looking at it as a way to help other endeavors with cross promotions, etc.
So far example, yeah, I might lose my $1 million investment but it is going to help me sell my Casa Azul drink for 300 million. Plus perhaps helping with tax write offs but I dont know how any of that works at those levels with jets and suites and wheeling and dealing.
Yet they're still hesitant to bring Andretti onboard.
Good one!!
The same is said about owning a winery.
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