Ferrari driver Carlos Sainz and McLaren driver Lando Norris have entered a new venture as the pair are backing and advising a new investment fund.
The two Formula 1 drivers have teamed up with world and European champion soccer players investing in a €50-Million euros ($54-Million) fund launched Tuesday that will use their advice to seek sports-related targets.
Formerly teammates at McLaren, Carlos Sainz and Lando Norris are headline investors in the Elite Performance Fund that aims to specialize in sports technology and media, fan engagement and nutrition.
Manchester United defender Raphaël Varane, a 2018 World Cup winner with France, and João Mário from Portugal´s 2016 European Championship title team are also investors with Lisbon-based fund manager APEX.
“I have been investing in startups for some time now,” Varane said in a statement, adding he aims to “share my investment experiences with other athletes and learn from theirs.”
Tom Brady joined the trend for athlete investment in the wider sports industry last month. The NFL (National Football League) great was announced as having a minority stake in English second-tier soccer club Birmingham by partnering with its holding company, Knighthead Capital Management.
The APEX fund also has investments from Varane´s Man United teammate Christian Eriksen, Belgium defender Jan Vertonghen and Netherlands international Daley Blind.
“Athletes aren´t just our capital sources – they´re our partners,” APEX chief executive António Caçorino said. “They infuse our decisions with genuine insights from their respective sports.”
Sainz and Norris are not the only drivers that have invested in sports outside F1, as it was announced back in 2022 that seven-time F1 World Champion Lewis Hamilton has become a co-owner in the NFL’s Denver Broncos.
(The Associated Press, Additional reporting by GrandPrix247)