Wrexham owners Ryan Reynolds and Rob McElhenney invest in F1 team Alpine Racing

Hollywood stars Ryan Reynolds and Rob McElhenney have invested in the Formula One team Alpine Racing.

The Wrexham AFC co-owners are adding another sports investment to their portfolio, following a fairytale run with the Welsh football side.

Wrexham secured a promotion to League Two after a 15-year absence with a 3-1 win over Boreham Wood in April, in a globally watched rise to victory.

The Hollywood stars and co-owners of Wrexham are part of a US $200million (approximately £157m) investment, representing a 24% stake in the team, which sits fifth in the constructors’ championship.

Reynolds’ Maximum Effort production company has teamed up with Otro Capital and RedBird Capital Partners, with fellow actor, Black Panther star Michael B. Jordan, also among the investors.

Reynolds and McElhenney have earned widespread praise for their approach to Wrexham, frequently attending games and promoting the whole town.

The story of their ownership has been featured in a documentary series, Welcome to Wrexham.

The news of the investment was announced by Alpine’s parent company Renault.

James Toney, co-founder of Maximum Effort Investments with Reynolds, said on renaultgroup.com: “Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing.

“We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney.”

Since the Renault team was rebranded as Alpine in 2021, they have managed one victory and three podium finishes, with Esteban Ocon coming third in Monaco this season.

Ocon currently sits ninth in the drivers’ championship, with his team-mate Pierre Gasly one place further back.

Listen to ITV News entertainment podcast, Unscripted