Wolff's Alpine Gambit to Block Horner's F1 Return

Exclusive: Wolff bids for Alpine stake in move that could thwart Horner's F1 return

In a dramatic twist that reignites one of Formula 1's most storied rivalries, Mercedes team principal Toto Wolff is leading a bid to purchase a significant stake in Alpine—the very same stake that his former rival, ousted Red Bull chief Christian Horner, is seeking as a route back into the sport.

Telegraph Sport can reveal that Mercedes has emerged as a surprise bidder for the 24 per cent share in the Enstone-based team currently held by American private equity firm Otro Capital. This sets up a direct corporate clash between Wolff and Horner, whose fiery exchanges helped define the sport's recent era and became a central narrative in Netflix’s Drive to Survive.

The Stakes and The Players

The stake in question is valued at roughly £448 million, based on Otro Capital's overall team valuation of £1.5bn-£1.86bn. Otro's investors include a host of sporting celebrities such as boxer Anthony Joshua, golfer Rory McIlroy, and footballer Trent Alexander-Arnold.

Flavio Briatore, Alpine's executive advisor, confirmed in January that Horner was interested in the shares as part of a consortium, noting there were "a few groups" in the running. He did not, however, disclose that Mercedes F1 was among the interested parties.

A Mercedes F1 spokesperson offered a measured response: "Mercedes is a key strategic partner of Alpine and we are being kept apprised of the latest developments." Otro Capital declined to comment on the bid.

Political Ramifications and Rival Concerns

Wolff’s move is laden with strategic and political implications:

Deepening Ties: Mercedes-Benz already supplies Alpine with power units and gearboxes until at least 2030. Acquiring a stake would significantly strengthen this partnership, potentially creating new synergies.
Multi-Team Ownership Debate: Such a deal would fuel the ongoing controversy over multi-team ownership. McLaren CEO Zak Brown has been a vocal critic of Red Bull's ownership of two teams, arguing it creates a "conflict of interest" and compromises sporting fairness. A Mercedes-Alpine link would add a new dimension to this debate and likely intensify calls for the FIA to regulate such relationships.
Blocking Horner: Perhaps the most immediate and personal consequence is that a successful Wolff bid would almost certainly eliminate Horner's path to a team principal role at Alpine. Sources suggest that even if the Mercedes bid fails, Wolff could use Mercedes’s position as engine supplier as leverage to oppose any Horner-led consortium deal with Renault Group, which retains a 76 per cent controlling stake in Alpine.

Horner's Search for a Return

Christian Horner, who was sacked by Red Bull last summer after 20 years, has been open about his desire to return to the F1 grid. Last month he stated he had "unfinished business" in the sport but would only return "as a partner, rather than a hired hand."

Besides the Alpine opportunity, Horner has been linked with moves to Aston Martin, Ferrari, and Haas. Aston Martin is currently seen as a plausible destination given the team’s poor start to the 2025 season, which has led to speculation that owner Lawrence Stroll might seek a CEO to allow team principal Adrian Newey to focus solely on technical matters.

However, a Horner-Newey reunion at Aston Martin is considered complex. The legendary designer left Red Bull in 2024 amid the height of the controversy surrounding Horner, who was subsequently twice cleared of allegations of inappropriate behaviour towards a female employee. As part of his settlement with Red Bull, Horner is free to return to the F1 paddock from the start of May.

Alpine's Focus Remains on Track

Amid the boardroom speculation, an Alpine spokesperson emphasized the team's primary objective: "The primary focus is the immediate task at hand which is the start of the racing season and seeing a sustained recovery of performance on track."

They added that the team is "regularly approached" by potential investors regarding the Otro shares, but declined to comment on any specific individuals.

This power play, unfolding against the backdrop of a new F1 season, adds a fascinating subplot of corporate rivalry to the sporting competition, proving that the battle for control off the track can be as intense as the fight for points on it.

The Alpine Stake: Wolff and Horner Set for New F1 Showdown

In a dramatic twist that reignites one of Formula 1's most storied rivalries, Mercedes Team Principal Toto Wolff is leading a bid to acquire a major stake in Alpine—directly challenging the ambitions of his longtime adversary, Christian Horner.

The Bidding War Telegraph Sport can reveal that Mercedes has emerged as a surprise bidder for the 24% stake in the Alpine F1 Team currently held by American private equity firm Otro Capital. This is the exact same shareholding that former Red Bull principal Christian Horner is known to be pursuing as part of a consortium. The move places Wolff and Horner on another collision course, this time in the boardroom rather than the pit wall.

Financial and Strategic Stakes

Otro Capital, whose investors include sports stars Anthony Joshua, Rory McIlroy, and Trent Alexander-Arnold, values Alpine at approximately £1.5 billion to £1.86 billion. This puts the value of their 24% stake at around £448 million.
Any deal requires approval from both the Renault Group, which retains a 76% controlling interest in Alpine, and the Mercedes board.
Mercedes-Benz is already a strategic technical partner to Alpine, supplying power units and gearboxes until at least 2030. Acquiring a stake would significantly deepen that alliance, potentially creating new synergies and intensifying debate over multi-team ownership in the sport.

Political Ramifications and Rival Reactions The prospect of Mercedes taking equity in another team is certain to provoke fierce debate among rivals, echoing long-standing criticisms of Red Bull's ownership of both its flagship team and Scuderia AlphaTauri (now Visa Cash App RB).

McLaren CEO Zak Brown has been particularly vocal, arguing such partnerships create a conflict of interest, compromise sporting fairness, and offer unfair technical advantages. He has repeatedly called on the FIA to ban them.
A successful Mercedes bid would also definitively block Horner's path to a team principal return at Alpine. Furthermore, even if Wolff's bid fails, insiders suggest he could leverage Mercedes' engine supply agreement with Renault to complicate any rival Horner-led consortium.

Horner's Comeback Conundrum Christian Horner, who was dismissed by Red Bull last year after two decades, has openly stated he feels he has "unfinished business" in F1. He insists he would only return "as a partner, rather than a hired hand."

While linked with roles at Aston Martin, Ferrari, and Haas, a move to Aston Martin is considered most plausible given their poor start to the 2025 season. Speculation suggests owner Lawrence Stroll might seek a CEO to allow Team Principal Adrian Newey to focus solely on car performance.
However, a reunion between Horner and Newey—who left Red Bull in 2024 amid the controversy surrounding Horner—is seen as uncertain. Horner was twice cleared of allegations of inappropriate behaviour towards a female employee and is free to return to the F1 paddock from the start of May as part of his settlement with Red Bull.

Official Silence, Intense Speculation All parties involved are maintaining official silence on the specifics:

Otro Capital declined to comment on the Mercedes bid.
A Mercedes F1 spokesperson stated only that they are a "key strategic partner" being "kept apprised of the latest developments."
An Alpine spokesperson confirmed the team is "regularly approached" by potential investors regarding the Otro shares but does not comment on specific individuals, emphasizing their focus is on-track performance.

This high-stakes corporate manoeuvring ensures that the fierce Wolff-Horner rivalry, a staple of Netflix's Drive to Survive, is set to continue, reshaping the political and ownership landscape of Formula 1.