Away from the NFL, Patrick Mahomes has also become a person of massive interest within F1, thanks to his part in the $210 million investment in Alpine. Given the stark differences between both sports, the question of how Mahomes got involved often arises.
Appearing in a video alongside Pierre Gasly for Alpine, the 28-year-old quarterback addressed the same.
“My General Manager, who’s like the Head Coach – the guy who like signs us – He’s been huge in F1 forever. So he started like feeding me some stuff. And then when I came to the first one in Miami, and after that, I was hooked.”
In October 2023, Otro Capital welcomed several new partners in its existing group of prime investors in Alpine. Ryan Reynolds, RedBird Capital Partners, and Maximum Effort Investments had previously bought a 24% stake in the French team for around $218 million.
Soon after, Patrick Mahomes, Travis Kelce, Anthony Joshua, Rory McIlroy, and Trent Alexander-Arnold also joined the group.
Following the initial investment, the net worth of Alpine climbed massively, with Forbes valuing the team at around the $900 million mark. With Mahomes and Co. also entering the mix, the number further increased to a whopping $1.4 billion. Thanks to the investment, the Enstone-based team became one of seven F1 outfits valued at over a billion dollars.
F1 – The perfect investment opportunity for high-profile celebrities
Given Alpine’s linkage with Renault, the team holds an illustrious history in F1. With the popularity of the sport on a stark rise, high-profile investors looked for an avenue to enter the grid.
With most of the teams already having surplus funds, the smaller outfits were in need of funding, and Alpine became a desired destination for investors.
Patrick #Mahomes with his F1 Alpine racing team at the Miami Grand Prix! | Getty Images pic.twitter.com/Onsd9mlAqq
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F1 teams’ revenue remains on the rise as well. An average F1 team earned around $220 million in 2018 whereas the number jumped to over $600 million in 2023. A massive increase in average viewership also gave way to a rise in the commercial appeal of the sport.
At the recently concluded Miami GP, celebrities like Tom Brady, Kendall Jenner, Zinedine Zidane, and Camila Cabello were present in the paddock. It further proves that Mahomes’ decision to invest in Alpine and expect benefits out of it, was correct.
