Already a partner in Fenway Sports Group, several European soccer teams, and the XFL, RedBird Capital Partners is reportedly nearing a deal to expand its sports empire even further.

The New York-based private investment firm is in talks with Renault SA for a minority investment in Renault’s Alpine Formula 1 team, according to Bloomberg.

The deal would see RedBird acquire a minority stake in Alpine’s U.K. operations and aid in key revenue-generating activities, such as media rights and sponsorship sales, during a boom period for F1.