Wealthy Rush To F1 Investment
Posted on 10/20/2023
Big names are lining up to invest in Formula 1. Patrick Mahomes, Rory Mcllroy, Travis Kelce are a few of the more recent stars to put their capital to work in F1. Jeff Bezos and Elon Musk have also been spotted at races and were said to be putting in their own bids.
Walmart heir Rob Walton made a highly-publicized investment in McLaren Racing first. While the size of the investment isn’t known, the sport is clearly growing in its popularity among the well to do. Walton invested in Formula One’s McLaren Racing through his family office in 2020. Other investors included MSP Sports Capital, UBS O’Connor, and the Najafi Companies.
The lead investor in Renault SA’s Alpine Formula 1 team was RedBird Capital Partners. The deal provided US$ 218.3 million in exchange for a 24% stake in the enterprise. The value of the team now sits at $982.57 million. Other investors included Otro Capital and Ryan Reynolds’ film investor, Maximum Effort Investments.
Walton Enterprises is the family office of the Walton family.
