JUNE 1, 2026

Mercedes walks away from Alpine as Horner options narrow

Mercedes has reportedly abandoned plans to buy a stake in Alpine, while Christian Horner's hopes of using the French team as a route back into Formula 1 also appear to have hit a dead end.

According to reports, Mercedes has withdrawn from negotiations to acquire the 24 percent Alpine stake owned by New York-based investment fund Otro Capital.

AFP contacted Mercedes for comment, but a team spokesperson declined to comment.

The negotiations had reportedly been ongoing for months, with Mercedes and Toto Wolff interested in purchasing the minority shareholding.

However, talks collapsed over valuation.

According to multiple reports, Otro wanted around $720 million for the 24 percent stake, implying a total valuation of the Enstone based team approaching $3 billion.

Mercedes is understood to value the team lower - at roughly $2.2-2.4 billion.

As far as we understand, negotiations have been terminated, a Renault source was quoted as saying.

The development is significant because Renault had reportedly identified Mercedes as its preferred bidder and used its veto rights to block discussions with other interested parties.

One of those parties was former Red Bull team boss Christian Horner.

Reports in Spain and Britain indicate Horner had assembled a group of investors interested in acquiring the same 24 percent stake.

However Renault, which retains a 76 percent controlling interest in Alpine, is understood to have exercised its veto rights to prevent any transaction involving Horner's group.

The latest development leaves Horner's Formula 1 return plans increasingly unclear.

Recent speculation had linked him to Chinese automotive giant BYD, whose vice president Stella Li met Horner at the Cannes Film Festival amid reports the company is evaluating a Formula 1 entry.

However, with Renault determined to retain its controlling stake and now having blocked both Mercedes and Horner-related approaches, that possibility appears unlikely.

For now, Horner's most realistic route back into Formula 1 may rest on whether BYD decides to pursue its own standalone project as a potential twelfth team.

(GMM)