Mercedes eyes Alpine stake as Briatore confirms negotiations

The Mercedes Formula 1 team is in negotiations to acquire a significant minority stake in the rival Alpine F1 operation, team boss Flavio Briatore has confirmed. The deal would involve Mercedes purchasing the 24% shareholding currently owned by the Otro Capital investment group, with multiple other parties also reportedly interested. This potential investment comes as Alpine prepares to become a Mercedes customer team for the 2026 power unit regulations.

Why it matters:

A major manufacturer acquiring a stake in a direct competitor is a rare and significant move in modern F1, reflecting the sport's soaring commercial value and shifting strategic alliances. It tests the governance around team independence and could set a precedent for future financial entanglements between rivals, all while Alpine seeks stability under its new leadership structure.

The details:

• Briatore clarified that the negotiations are being led by the Mercedes parent company, not solely by team principal Toto Wolff, confirming earlier reports.
• The stake in question is the 24% share owned by Otro Capital, a group that includes celebrities Ryan Reynolds and Rob McElhenny. This is separate from the majority shares held by Renault.
• Otro Capital initially invested $233 million for this stake in 2023. Since then, Alpine's overall team valuation has reportedly more than doubled to approximately $3 billion, indicating a much higher price tag for the current deal.
• Briatore stated there are "three or four potential buyers" for the Otro shares, naming former Red Bull boss Christian Horner as one interested party while ruling out his own personal investment.
• The Alpine boss downplayed concerns over undue influence, comparing a potential 24% stake to Red Bull's long-standing two-team model and noting that majority control (75%) would remain elsewhere.

What's next:

The situation remains fluid, with Briatore noting "every day is a new situation." The outcome hinges on which bidder Otro Capital selects. Should Mercedes succeed, it would formalize a deepening technical and financial relationship with its future customer team, while the F1 community watches closely for any competitive or governance implications. As Audi's Jonathan Wheatley remarked, others are content to watch the drama unfold, enjoying the "show."