As BWT Alpine F1 Team revealed that one of the consortiums showing interest in buying the race entry involves Christian Horner, a sale of the former Renault outfit appears to be moving closer.
Executive Advisor Flavio Briatore spoke about the subject of a sale during the Alpine 2026 car launch on Friday, with the team moving to clear up the situation and at the same time naming former Oracle Red Bull Racing Team Principal Horner among potential suitors.
“With the continued rapid growth of Formula One, the valuation of the teams has been increasing and, not surprisingly, has led to multiple interested parties looking to enter the sport,” it said in a statement.
“The team is regularly approached and contacted from potential investors, particularly given Otro Capital declared exploratory talks have taken place. One of those parties to express an interest is a group of investors, which also includes Christian Horner.”
But who calls the shots at the Alpine F1 Team and what would a purchase look like? Here, Sector explains the ownership structure of the Enstone-based entry.
State of play
While the team races under the Alpine name, it remains majority-owned by Renault Group.
In June 2023, Renault sold 24 per cent of Alpine Racing Ltd – the corporate entity that holds the team’s Formula 1 entry – to a consortium of investors led by Otro Capital, RedBird Capital Partners and Maximum Effort Investments for around €200 million, valuing the operation at roughly US $900 million at the time.
That left Renault with 76 per cent of the team’s equity – a controlling position that means any buyer of a minority stake still needs Renault’s approval to complete a larger takeover or exert meaningful influence.
Famous faces
The original minority investment wasn’t just financial – it brought a high-profile stable of partners into F1 via Otro’s deal.
Hollywood actors Ryan Reynolds and Rob McElhenney, through their vehicle Maximum Effort Investments, were among the early participants, alongside Michael B. Jordan.
Beyond Hollywood, the wider investor group has included elite athletes such as NFL star Patrick Mahomes, golfer Rory McIlroy, and boxing heavyweight Anthony Joshua, plus footballers like Trent Alexander-Arnold and Juan Mata – a collection that has boosted Alpine’s financial profile and media visibility.
This investor group sits behind the 24 per cent stake that Horner is understood to be in early talks to buy – effectively the same share that Otro and its partners bought.
Even if Horner or another bidder were to acquire the 24 per cent stake from Otro, Renault’s 76 per cent controlling share remains the gating factor.
Any meaningful change of ownership or direction at Alpine would require Renault’s sign-off – a point Briatore underscored when he said a buyer must first “buy Otro, and after Renault needs to accept the buyer.”
It’s also Renault that retains brand ownership, global manufacturing footprint and strategic control of the business, even if it no longer supplies engines to the team.
On track power
Complicating the narrative further is Alpine’s transition on the technical front. Renault’s internal F1 engine programme – based at Viry-Chatillon and active since the 1970s – was wound down at the end of the 2025 season, ending Alpine’s long-standing status as a Renault works engine team
From 2026, Alpine will race as a customer team using Mercedes power units and gearboxes under a multi-year supply deal, a shift that reflects Renault’s strategic decision to exit in-house engine manufacture.
That means any new investor entering via the team’s minority share would be stepping into a Renault-owned racing entity that no longer operates as a traditional manufacturer programme, but as a customer team supplied by a rival OEM.
What a purchase would look like
In practical terms, buying the 24 per cent stake currently held by Otro Capital would not hand any bidder control of the Alpine F1 Team.
Renault Group’s 76 per cent holding would remain the decisive voice in how the team is run, with ultimate authority over its strategic direction.
Renault still sits above the structure, meaning the most important strategic decisions – from commercial direction to long-term investment and governance – ultimately rest with the parent company rather than the minority shareholders.
Taken together, this explains why Briatore stressed that discussions are with the shareholders rather than the team itself.
Any headline about Christian Horner “buying Alpine” is, in reality, shorthand for Horner entering an existing ownership structure first – and only then seeking Renault’s agreement on how that position could develop from there.
