Otro Capital Eyes Stake in Miami GP Amid Alpine Divestment

Otro Capital is reportedly in negotiations to acquire a stake of up to 20% in the Miami Grand Prix from owner Stephen Ross. This potential move occurs while the firm is still attempting to offload its 24% stake in the Alpine F1 team, indicating a calculated pivot in how the group intends to capitalize on Formula 1's global expansion.

Why it matters:

The shift from team ownership to event promotion suggests a preference for the stability and scalability of destination races over the volatile nature of team performance. By pivoting toward the Miami GP, Otro Capital is betting on the long-term commercial viability of the "sportainment" model, which offers more predictable returns and lower operational risk than the competitive uncertainty of the grid.

The details:

• Alpine Divestment: Otro continues to seek a buyer for its Alpine stake. While talks with Mercedes and former Red Bull boss Christian Horner previously surfaced, no deal was reached, leaving the stake available for profit-taking as team valuations soar.
• Infrastructure Expansion: To meet growing demand, Miami is implementing a massive Paddock Club extension for the upcoming 2027 season, adding 115,000 square feet to accommodate 3,200 additional guests.
• Strategic Partnerships: Hard Rock will take over naming rights starting in 2027, coinciding with a full revamp of the event's signature beach club.
• Audience Evolution: Race promoter Katharina Nowak is shifting the focus from "FOMO-driven" early adopters to a sustainable core of local Florida fans, who now make up two-thirds of the attendance.

What's next:

Miami is positioning itself as the blueprint for the modern F1 event, leveraging its long-term contract—which runs through 2041—to make aggressive capital investments. The focus will now shift to "top of the funnel" growth through initiatives like South Beach Fan Fests, aimed at converting casual observers into lifelong hospitality buyers. If Otro Capital's investment closes, it will further validate the Miami GP as one of the most valuable commercial assets in the F1 ecosystem.