Ryan Reynolds and Rob McElhenney among investors to buy 24% of Alpine for £171m

Renault, the parent company of the F1 team, announced that the Hollywood duo would join Otro Capital and RedBird Capital Partners.

The move means that Alpine are worth approximately £706m in total.

Reynolds and McElhenney have added to their fame by becoming the owners of Wrexham Football Club, and helping them to promotion from the National League into the Football League.

A documentary about their ownership also helped to raise the profile of the partnership.

Now Reynolds and McElhenney have entered the world of F1.

RedBird, a key force in the investment group, own AC MIlan, the Italian football team. They also invest into Fenway Sports Group who own Liverpool, and have a stake in French team Toulouse.

Alpine chief executive Laurent Rossi said: "This association is an important step to enhance our performance at all levels.

"Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.

"The incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment."

Alpine's 'Mountain Climber' plan is a bid to be competing for the F1 championship within 100 races, beginning last season.