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The race to acquire a minority stake in Alpine has two well-known names at the front of it, and neither has yet closed the deal. Toto Wolff and Christian Horner are the leading candidates to take a 24 percent share of the team, but the process is moving slowly and the Mercedes bid has reportedly been found lacking.
What Is on the Table
Alpine values itself at approximately three billion dollars internally. The 24 percent stake being offered is worth an estimated 750 million dollars. Renault retains the remaining 76 percent. The buyer group being assembled around Horner includes the American investment firm Otro Capital, which already lists Ryan Reynolds, Michael B. Jordan, Patrick Mahomes, and Travis Kelce among its backers. Flavio Briatore confirmed in January that Horner had been in discussions, and the talks appear to have continued since.
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The Mercedes side of the story emerged somewhat later. Briatore confirmed that multiple parties had expressed interest and that negotiations were taking place with Mercedes as a brand rather than with Wolff personally. According to sources cited by GPToday.net, an offer has now been formally submitted by Wolff and Mercedes together, but it was assessed as significantly below what Alpine was looking for. The characterisation used was simply "very low."
Why Mercedes Has a Natural Advantage Despite the Low Bid
The power dynamic in the negotiation is not straightforward. Mercedes now supplies Alpine's power unit this season, which creates an operational dependency that did not exist before. That relationship gives Wolff leverage in any conversation about the team's future ownership, separate from whatever number is currently on the table.
Alpine's own position has also strengthened. After finishing last in the constructors championship in 2025, the team sits fifth after the first four races of 2026. That performance improvement makes the asset more attractive to investors and gives Briatore and Renault less reason to accept a price that does not reflect what they believe the team is worth.
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