Mercedes is seriously interested in purchasing a 24% stake in the Alpine team. This move raises legitimate concerns in the F1 world, while also reminding us that Red Bull owns two teams. The outcome of this matter will have a significant impact on the entire Formula 1.
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Ownership situation of the Alpine team and information about deadlines
The Renault group owns 76% of the shares in the Alpine team competing in Formula 1. In 2023, 24% of the shares were purchased for 200 million euros by the consortium Forest Intermediate Holdings, which includes three American investment firms: Otro Capital, RedBird Capital Partners, and Maximum Effort Investments. These are typical investment funds, and the last one involves various celebrities, actors, and athletes, etc. The consortium has been interested in selling its shares since the end of 2025. They are taking advantage of the significant increase in F1 team valuations and could sell their shares for even 600-700 million euros, which would be an excellent deal for them.
Due to provisions in the agreements, the mentioned investment funds cannot sell these shares to just anyone on their own. They need the consent of the Renault group. Here, two deadlines appear, but they lead to the same conclusion, i.e., Renault has its say until autumn this year. If the transaction cannot be completed, then the mentioned funds will have a free hand in selling – which no one wants to allow. Therefore, the transaction is expected no later than September or October this year. In April, Renault introduced Guillaume Rosso to the board of the company controlling the Alpine team; he holds the position of “Global Head of Mergers and Acquisitions” at the group. This is not a random move; Rosso is to handle negotiations regarding this transaction.
Potential buyers for shares in the Alpine team
As early as March, Flavio Briatore said there are 3-4 serious buyers for shares in the team. Among them is the Mercedes group, as well as a group of financial investors gathered by Christian Horner. The identities of the other bidders are unclear, but it can be safely assumed that they are some investment funds, as there is huge interest from their side in joining F1.
According to emerging rumors, the Renault group would most like the 24% stake to be bought by Mercedes. This would allow them to tighten cooperation in F1, and Alpine would gain a better position because currently, they are the least important customer for Mercedes in engine supply. Mercedes does not plan to turn Alpine into its junior team; besides, they would not have voting rights for that, as 24% is too little. On the other hand, in the future, Mercedes would be the first candidate to take over the entire team if Renault decided to sell its shares. Renault reportedly does not want Christian Horner and his investors to take over the team because the former Red Bull boss would want to gain control over the team, which the group does not want.
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Impact on the entire Formula 1
Red Bull has two teams in Formula 1, from which it gains many benefits. In most sports disciplines, rules apply that one entity cannot have two teams in a given league. For many years, voices opposing Red Bull have appeared in F1, calling for rule changes, but nothing has happened on this topic. Now there is a chance that Mercedes will invest in a second team, creating a similar arrangement, gaining influence over two teams (technical and political). Personally, I am not surprised by Mercedes at all because this is a great opportunity for them for many reasons. Rivals are not happy; Zak Brown openly criticizes this (just as he has criticized Red Bull for two teams for years). During the Miami GP, FIA president Mohammed Ben Sulayem said that the FIA would intervene if Mercedes wanted to make such a transaction and as a result have influence over two teams in Formula 1.
Imagine that Alpine agrees with Mercedes, wants to sell them shares, and then rivals protest and the FIA blocks such a move. Such a decision would have a very large impact on the entire Formula 1. The FIA and Liberty Media would find themselves in a situation where they have no good way out. If Mercedes bought shares in Alpine, a second pair of connected teams would be created, and in the future, other very wealthy teams would also want to have their “second teams.” However, if they blocked Mercedes from such a purchase, the fact that Red Bull owns two teams would be indefensible. However, there are currently no F1 regulations to force Red Bull to sell one of these teams. Protests from rivals would then be very intense.
Summary and my comment
I am not surprised that Mercedes is interested in buying shares in Alpine because it means many benefits for them. I would not want them to succeed because it would negatively affect competition in Formula 1. The financial situation in F1 is excellent; teams are self-sufficient, so there will be no better moment to introduce regulations preventing links between two teams. We know that Red Bull regularly receives offers to buy its second team; in 2025, they were supposed to receive an offer exceeding 2 billion pounds. If they accepted such an offer, there would be a chance that Racing Bulls would be reinvested in and with a new owner would have greater ambitions than just racing mid-field with juniors as drivers. F1 needs independent teams with ambitions.
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