Otro Capital has decided to retain its 24% stake in the Alpine Formula 1 team for the time being after negotiations to sell the shareholding to Mercedes failed to produce an agreement.
The investment firm is not under immediate pressure to exit its position and, according to current reports, is not engaged in discussions with any alternative buyers. As a result, the sale process has effectively been placed on hold.
The 24% stake was originally acquired in 2023 by a consortium led by Otro Capital in a transaction that valued the entire Alpine Formula 1 operation at approximately $900 million. Towards the end of 2025, the fund began exploring the possibility of selling its shareholding.
Renault, which owns the remaining 76% of the team, had identified Mercedes Grand Prix Ltd as its preferred buyer during the process.
Renault’s role and the collapse of the Mercedes deal
Renault retained veto rights over any sale until September of this year and, thanks to its majority ownership position, would continue to exert significant influence over the team’s future even after that date.
Despite what appeared to be favourable conditions for a transaction, the parties ultimately failed to reach an agreement on the value of Otro Capital’s stake. Sources close to both sides reportedly confirmed that a significant gap remained between their respective valuations.
Mercedes and Otro Capital were unable to agree on a price for the shareholding, preventing the deal from being completed.
The discussions therefore ended without a resolution and, at present, there are no indications that negotiations have begun with any other interested parties. Otro Capital appears comfortable maintaining its current position and has shown no urgency to exit its investment.
Alpine’s sporting and commercial outlook
The development comes shortly after Alpine announced a major new title sponsorship agreement with Gucci. Beginning in 2027, the team is expected to compete under the name Gucci Racing Alpine F1 Team.
The partnership is reportedly worth between $160 million and $200 million over an initial term of three to four years, providing a substantial commercial boost to the Enstone-based outfit.
On the sporting side, Alpine currently sits fifth in the Constructors’ Championship after the opening five races of the 2026 season. The team has also completed its transition to Mercedes customer power units, marking a significant change in its technical structure.
With the sale process temporarily suspended, Otro Capital remains a minority shareholder while Alpine continues under Renault’s leadership. Supported by a high-profile new sponsor and strengthened by its technical partnership with Mercedes, the team moves forward with its current ownership structure intact.
For now, there is no indication as to when discussions regarding the sale of Otro Capital’s stake might resume, leaving the investment fund’s future involvement in Alpine unchanged.
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