Eddie Jordan laments Alpine F1 investment by Wrexham owners, deems it 'preposterous'

Ryan Reynolds and Rob McElhenney are extending their reach into the sporting world as they acquire another massive stake in the sporting division. The Wrexham owners and a few other investors are officially a part of the Formula One ownership club after they bought the stakes of the Alpine F1 team. But not everyone seems to be a fan of the purchase.

3 things you need to know 

• The Alpine F1 team received a €200 million cash injection from a consortium that includes Ryan Reynolds and Rob McElhenney
• This is one of Ryan Reynolds' biggest acquisitions
• Reynolds and McElhenney also own Wrexham FC

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What did Eddie Jordan say about Alpine F1?

Formula 1 legend Eddie Jordan has criticized the recent investment made in racing team Alpine, which includes Hollywood stars, Ryan Reynolds and Rob McElhenney. The Wrexham co-owners, along with Otro Capital and RedBird Capital Partners, have acquired a 24% equity stake in Alpine through a substantial €200 million deal.

Expressing his scepticism on GB News, Jordan raised doubts about the credibility of the investment. He stated:

I don't believe it. The financial model doesn't stack up from an accounting point of view. Putting these figures on things may seem impressive, but they need to be substantiated and authorized. It's strange that there has been no response from Alpine or Renault, the major shareholders. Valuing something at a gross value of £700 million is preposterous and ridiculous.

Eddie Jordan acknowledged Reynolds and McElhenney's star power, implying that their inclusion was done in order to appeal to the American market. He speculated that other people in the United States were the principal driving force behind the investment, but he questioned their individual financial contributions to it.

The Formula One legend also insisted that Alpine had shared no official statements regarding the situation, despite the group sharing the information public via a press release. Jordan expressed more concern with the team's name shift from Renault to Alpine, speculating there may have been additional factors at play.

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In conclusion, Eddie Jordan stated his doubts about Ryan Reynolds and Rob McElhenney's Alpine venture. He emphasised financial worries, questioned the motivations behind the participation of Hollywood celebrities, and cast doubt on the overall benefit of funding Formula One.