The investment of Ryan Reynolds and Rob McElhenney into Oxfordshire-based Formula One team Alpine Racing has been welcomed by councillors.

The Hollywood stars, who are also co-owners of Wrexham FC, are part of a 200 million dollar investment at Alpine Racing.

This constitutes a 24 per cent stake in the team, which is based in Enstone, near Chipping Norton.

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

Geoff Saul, who represents Chipping Norton on Oxfordshire County Council, said: “It sounds like an exciting project.

Oxford Mail: Geoff Saul, the new Labour county councillor for Chipping Norton

“It would be great to see Alpine Racing competing back at front of the grid, like they did when they were Renault.

“The team is vital for the area- they have a number of skilled staff who live locally.

“It is therefore important that the race team is successful and I am very much in favour of the investment.”

Alpine Racing was formerly known as the Renault F1 Team.

But it was rebranded in 2021 to promote Renaut’s sports car brand, Alpine.

That year, they also signed two-time World Champion Fernando Alonso but he moved to Aston Martin for the 2023 season.

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

Councillor Alex Wilson who represents Kingham Rollright and Enstone on West Oxfordshire District Council also welcomed today’s (June 26) news.

He said: “Personally I think it is great news that both Ryan Reynolds and Rob McElhenney will be investing and this will increase the profile of an already popular team in West Oxfordshire.

Oxford Mail: Ryan Reynolds at a Wrexham FC game Ryan Reynolds at a Wrexham FC game

“I have no doubt that, like with Wrexham, their interest and investment into West Oxfordshire will bring more light to our beautiful patch of Britain.

“Both are more than welcome to come visit as I have no doubt they will receive a warm welcome.”

Alpine Racing are currently fifth in this year’s Formula One Constructors’ Championship.

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Since rebranding in 2021, the team has 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.

The Centre of Cities is a leading think tank dedicated to improving the economies of cities and towns. 

Paul Swinney, director of policy and research at the organisation shared his thoughts on the investment. 

 He said: “Any private sector investment is a good thing for an area.

"But we must be careful not to confuse celebrity stardust for hard economic fundamentals.

"The key to attracting further investment will be whether an investor can make a return.

"And this will be determined by having appropriate space to operate in, enough skilled workers available and the right housing for these workers to live in.”