March 14, 2026 – Briatore confirms Mercedes among multiple bidders for Otro Capital’s minority holding in the Enstone-based outfit
Mercedes-Benz is pursuing a 24% minority stake in rival Formula 1 team Alpine. Flavio Briatore, Alpine’s executive adviser, confirmed the interest on Friday at the Chinese Grand Prix in Shanghai. The German manufacturer is one of three or four parties bidding for shares in Otro Capital, a U.S.-based private equity firm.
The Deal on the Table
Otro Capital acquired the 24% stake from Renault Group in 2023 for approximately €200 million ($233 million). Since then, F1 franchise values have surged. According to Autosport, Alpine’s valuation has more than doubled to roughly $3 billion. That would price the minority holding at approximately $720 million today.
Otro’s investors include actor Ryan Reynolds, golfer Rory McIlroy, and NFL stars Patrick Mahomes and Travis Kelce. A sale at current prices would deliver a substantial return on a two-year hold.
Briatore clarified that Mercedes, as a corporate entity, is leading the talks. He dismissed reports linking team principal Toto Wolff to a personal bid. Former Red Bull boss Christian Horner is also among the interested parties.
F1’s Booming Valuation Landscape
The deal reflects a broader surge in F1 valuations. Mercedes was valued at $6 billion in November 2025 when Wolff sold a 5% stake to CrowdStrike CEO George Kurtz for roughly $300 million. McLaren reached a $5 billion valuation around the same period.
Strategic Implications for Mercedes
A minority stake would deepen an existing commercial relationship. Alpine switched to Mercedes engines for 2026 after Renault shut down its works power unit program in September 2024. Briatore had demanded the engine deal as a condition for returning to lead the team.
An equity position could mirror Red Bull’s two-team model. Red Bull has run parallel outfits for over 15 years. Mercedes could use Alpine to develop junior drivers, as it did with George Russell at Williams from 2019 to 2021.
Briatore downplayed governance concerns. A 25% shareholder would simply be a “passenger” in decisions controlled by the majority owner. Renault Group retains the 76% majority stake.
Alpine’s On-Track Struggles
The potential deal comes during a turbulent period for Alpine. The team finished last in the 2025 constructors’ championship with just 22 points. Pierre Gasly scored all of them. In the 2026 opener, Gasly managed only a single point with 10th place at the Australian Grand Prix.
Briatore acknowledged the performance gap. Despite the new Mercedes power unit, the A526 has struggled in the midfield. Alpine sacrificed its 2025 development to focus on the regulation change. That gamble has not yet paid off.
What Comes Next
Renault’s leadership transition adds further uncertainty. Former CEO Luca de Meo left in mid-2025. Whether new management will retain its F1 commitment remains unclear. A Mercedes investment could stabilise the Enstone operation in the long term.
Mercedes confirmed the relationship, describing itself as a key strategic partner of Alpine. No timeline for a deal has been disclosed publicly.
Sources:
1. Autosport – “Flavio Briatore confirms Mercedes wants to buy into Alpine F1 team” (March 13, 2026)
2. Sky Sports F1 – “Mercedes interested in Alpine F1 team buy-in” (March 13, 2026)
3. Associated Press via The Washington Post – “Alpine F1 team boss says Mercedes is interested” (March 13, 2026)
4. PlanetF1 – “Flavio Briatore reveals Mercedes interest in Alpine F1 ownership stake” (March 13, 2026)
5. CNBC – “Mercedes F1 boss Toto Wolff sells stake to CrowdStrike CEO” (November 20, 2025)
6. BlackBook Motorsport – “Wolff sells Mercedes F1 stake valuing team at US$6bn” (November 21, 2025)
