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<\/p>\nWhen Wrexham owners Ryan Reynolds and Rob McElhenney decided to invest in a Formula One team four months ago they were taking a leap into the unknown. The Hollywood actors are part of a consortium that has taken a 24 per cent equity stake in Alpine Racing, which led to the British team being revalued at around \u00a3700m.<\/p>\n
The investment is designed to support Alpine’s ‘Mountain Climber’ project, which aims to see the team fighting for the Formula One drivers and constructors’ championships within 100 races, starting in 2022.<\/p>\n
It also plans to bring the outfit’s facilities and equipment on par with the very best teams in the sport.<\/p>\n
The project has a similar feel to it to the path Reynolds and McElhenney have enjoyed so far in football at Wrexham. The duo bought the struggling north Wales club in 2021 and in the space of two years have transformed their fortunes and helped them to achieve promotion back to the Football League for the first time in 15 years.<\/p>\n
As of yet, there has not been any indication whether Alpine will agree rights with a filmmaker to make a fly-on-the-wall TV series along the same lines as the ultra-successful Disney Plus show Welcome to Wrexham, but for now, at least Reynolds and McElhenney can be reassured by Alpine’s latest reported financial accounts.<\/p>\n
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According to Motorsport.com, the team posted a profit in excess of \u00a326.2m in 2022, prior to the 24 per cent investment they received in June.<\/p>\n
Finishing fourth in the world championship and the arrival of principal sponsor BWT helped Alpine to increase their income from \u00a3201,485,000 in 2021 to \u00a3249,038,000 last year – a gain of 23.6 per cent.<\/p>\n
The team’s overall operation spending rose at a slower rate of 21.6 per cent from \u00a3145,264,000 to \u00a3170,395,000.<\/p>\n
Alpine said: \u201cWhilst operations have been impacted by inflation, a second year of financial regulations coupled with a disciplined approach to cost control has led to an improvement in operating margin of 37%, resulting in an operating profit of \u00a336.6m.\u201d<\/p>\n
Don’t miss… <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Although Alpine’s headline figure is \u00a39.5m higher than in 2021, the final post-tax profit figure of \u00a326,214,000 was down by \u00a32.9m.<\/p>\n Renault reduced its marketing contribution to the team from \u00a360.6m to \u00a342.2m, illustrating how they had now gained revenue from other sources. The workforce headcount has increased from 820 in 2021 to 871 in 2022, with 14 heads added to the engineering and production department. By comparison, rival team Aston Martin employed just 504 people in 2022.<\/p>\n Alpine is currently sixth in the F1 Constructors’ Championship with drivers Pierre Gasly and Esteban Ocon 10th and 11th respectively in the driver standings.<\/p>\n
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