The Telegraph, via The Independent, reported that Wolff has launched a bid to acquire a minority stake in Alpine. Alpine confirmed in January that Horner is interested in purchasing Otro Capital's 24% stake. Alpine team principal Flavio Briatore confirmed negotiations with Mercedes for the 24% stake, according to Briatore. The valuation of Alpine remains unclear, with different sources citing vastly different figures. ESPN values Alpine at up to $3bn, according to ESPN via Ilta-Sanomat. Otro Capital purchased the stake at a valuation of around £850m, implying a total valuation of £6.25bn for the 24% stake. Otro Capital's investors include Ryan Reynolds, Michael B. Jordan, Rob Mac, and Rory McIlroy. Renault will reportedly have first refusal over acquiring the shares outright, according to City AM.
Horner has billionaire backers willing to finance his F1 return, according to The Sunday Times via Daily Mirror. He will be legally free to work in an F1 paddock late next month under the terms of his £80m settlement, according to multiple reports. Horner has worked with former McLaren investors MSP Sport Capital on a bid, according to City AM. Horner has no desire to return to a role similar to his Red Bull team principal position, according to The Sunday Times via Daily Mirror. He was spotted at the MotoGP race in Jerez amid speculation he could invest in MotoGP. Liberty Media acquired a controlling stake in MotoGP as part of a £3.11bn deal last year. Horner has also been approached by Formula E and is due to hold talks with America's Cup bosses, according to The Sunday Times via Daily Mirror.
It is no secret that Otro Capital has held preliminary talks to sell its stake in the team. With the continued rapid growth of Formula One, the valuation of the teams has been increasing and, not surprisingly, has led to multiple interested parties looking to enter the sport. The team is regularly approached and contacted from potential investors, particularly given Otr...
Briatore said that buying 24% would not give Mercedes control of Alpine, according to Briatore. There are three or four serious buyers for the Alpine stake, including Mercedes, according to Briatore. However, The Independent and Ilta-Sanomat mention only Mercedes and Horner's group as bidders, indicating the exact number of bidders is unclear. One reported bid involving Briatore, Horner, and Bernie Ecclestone has been pushed to the periphery, according to City AM. Alpine are using Mercedes power units for the first time in the 2026 season, according to multiple reports. Briatore stated, "I believe so. Red Bull has been a pioneer in this for 10-15 years. And Mercedes wants to buy Otro's 24 percent. And if one company owns 75 percent and the other the rest, that minority owner is in the passenger's role, not the driver's. That's the truth." An Alpine spokesperson said, "It is no secret that Otro Capital has held preliminary talks to sell its stake in the team. With the continued rapid growth of Formula One, the valuation of the teams has been increasing and, not surprisingly, has led to multiple interested parties looking to enter the sport. The team is regularly approached and contacted from potential investors, particularly given Otr..." Briatore added, "Every day is a new situation. What I want to say, I know it's a negotiation from Mercedes, not with Toto. In this moment we have three or four potential buyers."
The exact valuation of Alpine and the 24% stake remains unknown, as does the identity of other potential buyers besides Mercedes and Horner's group. It is unclear whether Renault will exercise its first refusal right to buy back the stake. The status of the reported bid involving Briatore, Horner, and Ecclestone is also uncertain. Would Mercedes' acquisition lead to a 'B-team' arrangement similar to Red Bull and Racing Bulls? That question remains unanswered.