The Renault-owned Alpine Formula 1 team is eyeing substantial improvements both on and off the track following a $220 million equity investment fronted by a trio of Hollywood actors.

Ryan Reynolds, Rob McElhenney, and Michael B. Jordan — working through Reynolds’ Maximum Effort Investments — will join Otro Capital and RedBird Capital Partners to acquire a 24% stake in the Alpine team at a valuation of about $900 million.

The jolt of new capital and star power is designed to transform the team’s business and competitive performance, taking advantage of F1’s commercial rise. Alpine now ranks in fifth place among teams, continuing a middling trend that saw it finish in fourth last year and fifth in 2021.

“We are going to reinvest into the team to accelerate our program of catchup to be at the level of the very top teams,” said Laurent Rossi, Alpine CEO. Last month, Rossi said the “trajectory is not good. We need to fix the mindset of the team ASAP.”

The new investors, with their extensive background in team operations in North America, Europe, and Asia, will aid core revenue-generating functions for Alpine, including sponsorship, merchandising, hospitality, and media.

“Alpine is for me something absolutely special,” said Luca de Meo, Renault Group CEO. “Two years ago, it was a dead end. Formula 1 was not considered an asset, but a cost. A mere line in the marketing budget. In only two years, everything changed.”

Fenway Sports Group has become the second team owner in TGL, the tech-infused golf competition backed by Tiger Woods and Rory McIlroy that will launch in January.

TGL is slowly rolling out its “original six” founding owners — Serena and Venus Williams and Reddit co-founder Alexis Ohanian were the first announced in connection with Los Angeles Golf Club.

FSG’s team will represent Boston and the New England region. Team members and an official name will be announced soon. The move adds golf to a portfolio that already includes the Boston Red Sox, Pittsburgh Penguins, Liverpool, and NASCAR’s RFK Racing. 

Financial terms for the team purchase were not disclosed, but FSG was an initial investor in TGL parent company TMRW Sports, as were Ohanian and Serena Williams.

Confirmed players for the first season of TGL — a partnership with the PGA Tour — include Woods, McIlroy, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Billy Horschel, and Rickie Fowler.

While teams are tied to specific geographical locations, the league will operate on Monday nights out of a high-tech facility being constructed on the campus of Palm Beach State College.

TGL could look to place players on teams with affiliations to cities or regions. Homa, Fowler, and Schauffele hail from Southern California, many pro golfers call South Florida their home, and Schauffele and Morikawa live in Las Vegas.

Men’s professional tennis appears to be the next sport of interest for Saudi Arabia’s Public Investment Fund.

The PIF has already invested in golf, Formula 1, soccer and the WWE.

ATP Tour chair Andrea Gaudenzi told the Financial Times he’s had “positive” discussions with the PIF about potential investment.

New funding could spur innovations in media, data, and technology, per Gaudenzi, who pointed to the PIF’s deal with the PGA Tour — which like the ATP, operates alongside four major tournaments, creating fragmentation.

“You want to see the top players playing in the best events in the world,” Gaudenzi said.

No. 1-ranked Carlos Alcaraz said on Sunday he has “no doubts” he will eventually play pro tennis in Saudi Arabia after winning the Queen’s Club Championship on the road to Wimbledon next week. Alcaraz acknowledged the country’s “power to have a lot of tournaments.” 

In December 2022, American Taylor Fritz defeated Daniil Medvedev in the second edition of the Diriyah Tennis Cup, earning the $1 million first-place prize at the three-day event in Saudi Arabia.

Last June, the WTA confirmed Saudi Arabia had reached out to the tour with interest in investing. But in March, the women’s tour announced a $150 million investment from CVC Capital partners.

Should the PIF work with the ATP, a high-profile tournament would likely end up in Saudi Arabia. The 2023 ATP calendar included February’s 500 series event in Dubai, United Arab Emirates, a neighboring country of Saudi Arabia.