How much did Rory McIlroy invest in Formula One? Golfer’s latest Alpine team investment explored
Rory McIlroy has extended his business ventures to racing with his latest investment in the Alpine F1 team. The Northern Irish golfer has joined a group of high-profile sports stars as a co-investor in a $211 ($210.970 million) deal.
Earlier in July, a group of investors agreed to pay €200 to purchase a 24 percent stake in the Alipe Formula One team. Initially, Red Bird Capital, Otro Capital, and actors Ryan Reynolds and Rob McElhenney invested in the deal.
However, a few new names from the sports world, including four-time major champion Rory McIlroy, NFL quarterbacks Patrick Mahomes and Travis Kelce, Liverpool footballer Trent Alexander-Arnold, boxing star Anthony Joshua, and former Machester United player Juan Mata joined hands with the group.
The agreement was made in the hope that the star names would promote the team across global sports and help in the increase of its fanbase.
Although the individual investments of sports stars have not been made public yet, the combined group of actors, sports stars and investment firms owns a 24 percent stake in the Alpine Formula One team.
Speaking about his investment, Rory McIlroy said:
“Passion for excellence on the golf course has led me to admire the same pursuit in Formula 1. Partnering with Otro Capital in Alpine F1 is an exhilarating venture that unites my love for sports, competition, and the relentless drive to be the best.”
In July, Ryan, McElhenney, RedBird Capital, and Otro Capital combined to pay $220 million on a valuation of $900 million. The actors reportedly own around 2-3 percent of the total company state, which has a valuation of $18-27 million.
However, according to the UK Daily Mail, they seized the opportunity for nothing. According to the source, both actors receive compensation in the form of sweat equity, meaning Ryan and McElhenney must offer “their storytelling prowess and perhaps a documentary series” in order to meet the commitment.
Rory McIlroy joined Tiger Woods to form TWGR sports
Last year in August, Rory McIlroy and his best friend Tiger Woods along with Mike McCauley announced the formation of TWGR Sports. The company focuses on promoting sports and entertainment on the global stage by focusing on building technology ventures.
Speaking about the deal, McIlroy said (via Business Wire):
“For the last few years off the course, I’ve been focused on helping to lead golf into its digital future. Now, by joining forces with Tiger, Mike, and other TMRW Sports partners, we can shape the way that media and technology improve the sports experience. In a world where technology provides us with so many choices for using our time, we want to make sports more accessible for as many people as possible.”
McIlroy has last played at the Ryder Cup and added four points to his team’s victory.
