Mercedes and Toto Wolff Drop Out of Alpine Takeover Race

Mercedes and team principal Toto Wolff will not become co-owners of the Alpine Formula 1 team. Talks with Otro Capital, which put its 24% stake up for sale, have been halted after Renault, the majority shareholder, decided to suspend all discussions.

Why it matters:

The collapse of the deal reshapes the ownership landscape at Enstone and keeps Alpine under full Renault control for now. It also blocks former Red Bull boss Christian Horner from mounting a rival bid, as Renault held veto power over any sale to parties linked to Horner until September.

The details:

• Otro Capital was seeking $720m (£536m) for its 24% stake, valuing the team at $3bn (£2.2bn). The shares were bought for €200m in June 2023.
• A source at Renault told the BBC: "We understand that discussions have stopped."
• Mercedes, which currently supplies engines to Alpine, McLaren and Williams, plans to reduce its customer teams to two. One of those three will need to find a new power unit supplier.
• Alpine will rebrand as Gucci Racing Alpine Formula One Team from 2027, with the Italian fashion house replacing BWT as title sponsor. The deal marks the first time a luxury fashion house headlines an F1 team, following LVMH's 10-year F1 agreement last year.

What's next:

Horner completed his gardening leave from Red Bull in April and is free to return to F1, though he is not expected before the summer break. FIA president Mohammed Ben Sulayem has publicly backed his comeback, and a GPblog poll showed 78% of readers expect him back soon. Horner may now turn his attention to a different team opportunity.