by –News Direct–
Formula One team Alpine Racing secured a 200-million-euro ($218 million) investment led by Otro Capital. Joining Otro and its partners as new owners is a group led by Patrick Mahomes and Travis Kelce.
Otro Capitals mission to support sports on a global scale aligns perfectly with Kelce and Mahomes vision of expanding the reach of sports and promoting positive engagement of sports across a diverse set of audiences. Kelce and Mahomes investment group includes familiar names in the sports industry, including perennial NFL pro-bowlers Von Miller and Denzel Ward.
Travis Kelce, Kansas City Chiefs tight-end, eight-time NFL Pro-Bowl and two-time Super Bowl champion, shared his excitement, saying, "Partnering with Patrick, a world-class private equity firm like Otro Capital, and the legendary Alpine Racing team is a dream come true. We are embracing this opportunity to be a part of something extraordinary, and we look forward to contributing our passion and commitment to this incredible team."
Patrick Mahomes, Kansas City Chiefs quarterback, two-time NFL MVP, and two-time Super Bowl MVP, said, "I am thrilled to join forces with my friend Travis Kelce and this group of investors led by Otro Capital to support the world-class Alpine Racing Team. As athletes, we understand the importance of teamwork, dedication, and the pursuit of excellence. We see these same qualities in Alpine Racing and are excited to be a part of their journey to further success.
With Kelce & Mahomes leading the way, the investment group aims to bring added attention to the Alpine Racing team, capitalizing on the tremendous growth and fan enthusiasm for F1 experiences in the U.S.
Joining Travis & Patrick in leading this investment group is Andre Eanes of A&A Management, Joey Feste of KM Capital and Rhodes McKee of MavenHill Capital / ReynardMcKee.
Andre Eanes of A&A Management, Alpine Racing represents the epitome of the unique access we provide our clients in world-class investment opportunities led by top investors. We look forward to working with Otro Capital and the Alpine team as they continue to grow this incredible organization.
Rhodes McKee of MavenHill Capital / ReynardMcKee further commented, Alpine Racing is a prime example of a rare and asymmetric opportunity that aligns perfectly with our investment philosophy. Formula One is currently at an exciting inflection point in its storied history. The interplay between the sport's unique regulatory and operational structure, the prestigious Alpine Racing organization, and an exceptional investment partner collectively presents a once-in-a-lifetime investment opportunity, which is underscored by an enduring competitive moat that will lead to sustainable value creation.
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COMTEX_442008787/2655/2023-10-17T07:59:36
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.