Pierre Gasly sets F1 driver first with Guenther Steiner partnership

Pierre Gasly has become the first active F1 driver to invest in a MotoGP team, forming part of an investor group behind Guenther Steiner's Red Bull KTM Tech3 team.

At the start of this year, former Haas team principal Steiner became CEO of Tech 3 as he switched from four wheels to two, joining forces with Richard Coleman, a touring car veteran and sports management specialist, who has become team principal.

Along with IKON Capital, Steiner and Coleman completed a takeover of Tech3, which has today announced its full ownership structure. Bolt Ventures and Main Street Advisors have now bolstered the acquisition.

In addition, Alpine driver Gasly is among a range of names in the investor group. He said: "I have a strong conviction in the strength of the Tech3 brand and the long-term growth of the MotoGP sport.

"Tech3 has significant untapped potential, and I look forward to contributing to further elevating the team’s profile."

Gasly has beaten the likes of Lewis Hamilton and Max Verstappen to the punch in terms of MotoGP investment, as both drivers have been linked with a move in the past.

It is not Gasly's first venture into sports investment. Two years ago, he became a joint shareholder of third-tier French football club, FC Versailles.

The overall investment in Tech3 is significant, as outlined by Steiner.

"It’s a very exciting time to be entering MotoGP, and it was important to IKON Capital and me to bring together a group of like-minded investors who share a long-term vision for the Tech3 team," he said.

"We are joined by a strong group that understands motorsport, brings genuine value-added capabilities, and shares our core values.

"Just as importantly, we are committed to preserving Tech3’s heritage while taking a measured, strategic approach to growth. This is about building on what already works, and I’m looking forward to working together to shape the team’s future."

Bolt Ventures is fronted by David Blitzer, a managing partner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils, whilst Main Street Advisors was founded by Paul Wachter, who is also a partner at Fenway Sports Group, whose ownership portfolio includes English Premier League side Liverpool and MLB's Boston Red Sox.