Formula 1 | Wolff Wants a 24% Stake in Alpine? A Thwart for Christian Horner

The paddock of the Formula 1, already shaken by the technical challenges and so far lost ones of the 2026 regulation, looks with extreme curiosity at a possible battle between two old "friends". At the center of the dispute is the future corporate structure of Alpine, or rather, that crucial 24% of the capital currently in the hands of the consortium led by Other Capital. If until a few weeks ago the name of Christian horner seemed to be the only one seriously approached to this operation, the possible surprise entry of Toto wolff and Mercedes Benz It transformed a potential takeover negotiation into a re-run, this time financial, of the most heated rivalry of the last decade.

The context in which this clash is maturing is the result of an earthquake that occurred last July, when Horner was suddenly relieved of his duties as CEO and team principal of the Red Bull, ending a twenty-year reign. Since then, the British manager has made no secret of his desire to return to the Circus, not just as an employee, but in a role that would give him a different political and managerial edge. The opportunity offered by Otro Capital, the fund that includes sports and movie stars like Ryan Reynolds, Patrick Mahomes, and Travis Kelce, seemed like the perfect red carpet for his return, perhaps supported by the decades-long experience of a historic ally like Bernie Ecclestone.

Mercedes' entry: a strategic move or a disruption?

The situation has further complicated with the rumor relaunched by the British press regarding Toto Wolff's interest. Mercedes isn't simply observing the situation, but is seriously considering submitting a bid to acquire the very minority stake Horner seeks. For the Stuttgart giant, the deal would be of significant strategic importance: Mercedes is already the supplier of hybrid engines to the French team, and a stake would greatly strengthen its position as a preferred partner, creating a technical-political axis between Brackley and Enstone.

This move is seen by many observers as an attempt by Wolff to block the path of his old rival, preventing Horner from rebuilding a power center within a factory team. A spokesman for the Mercedes Benz He preferred to maintain an institutional profile on the matter, without however denying the parent company's interest: "Mercedes acts as an important strategic ally for the Alpine project and we are constantly kept informed about the company's latest developments."

Alpine's wall and Renault's role

Despite the buzz surrounding the names of the two paddock heavyweights, the French team is trying to maintain calm, recalling that control of the team remains firmly in the hands of the Renault Group, which holds the remaining 76%. The Enstone management is aware that these maneuvers could divert attention from its racing goals, just as the team is struggling to rebound after disappointing seasons.

A spokesperson for the team Alpine He wanted to clarify the team's position, emphasizing the distance between sporting activity and shareholder movements: "We do not intend to release statements regarding the names of individuals or specific personalities. The ongoing negotiations do not fall within the team's direct remit, as they concern exclusively shareholders and potential investors. Our absolute priority remains focused on the imminent commitments, namely the start of the season and the consolidation of a process of technical growth on the track."

Briatore's perspective and the recent past

To better understand how we got to this point, we need to go back a couple of months. Already at the end of January, during the presentation of the new single-seater in Barcelona, Flavio Briatore had painted a picture of great uncertainty. The Italian manager, once again at the helm of the team's operations, had admitted that interest in that 24% stake was extremely high, with continued expressions of interest from various economic entities.

On that occasion, Briatore explained how Horner was actually in dialogue with Otro Capital, specifying, however, that it was a private discussion between the fund and the former Red Bull manager, without the direct involvement of Alpine. The process is complex: first, the current minority shareholders must be willing to sell, then an agreement must be reached with the buyer, and finally, Renault must exercise its approval or right of first refusal.

If Horner succeeds in his intent, perhaps supported by the long shadow of Ecclestone, the championship would find one of its most charismatic protagonists in a completely new guise. If, however, the Mercedes line were to prevail, we would witness a further concentration of power in the hands of Toto Wolff, capable of extending its influence over a team that was already a client.