Toto Wolff has reportedly emerged as a potential bidder for Otro Capital’s stake in Alpine, setting up a rivalry with Christian Horner.
The Mercedes team principal is said to be among several parties interested in acquiring the 24% share in Alpine currently held by US investment consortium Otro Capital.
Toto Wolff and Christian Horner rival bids for Alpine ownership stake
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Alpine has made little effort to hide the fact that several interested parties are exploring the 24% stake currently owned by Otro Capital, which has already held preliminary discussions about a potential sale of its share in the team.
In January, the team’s executive advisor, Flavio Briatore, confirmed that former Red Bull team boss and CEO Christian Horner is among those interested, with Horner leading a consortium preparing a bid for the ownership stake.
PlanetF1.com understands that multiple bids are now on the table for Otro Capital’s share, including a surprise offer submitted in recent weeks by Mercedes team principal Toto Wolff.
While the exact valuations of the bids have not been disclosed, sources suggest they value Alpine at around £2.5 billion. Based on that estimate, the 24% stake held by Otro Capital could be worth roughly £600 million.
Such a sale would represent a significant return for Otro Capital, whose high-profile investors include Hollywood actor Ryan Reynolds and professional golfer Rory McIlroy. The consortium originally purchased the stake for €200 million three years ago.
Both Horner’s and Wolff’s proposals are believed to be of strong interest to the Renault Group, largely due to their deep knowledge of Formula 1 as well as the connections and opportunities they could bring.
However, as previously revealed by PlanetF1.com in January, documents relating to Otro Capital’s shareholding place restrictions on any potential sale. Any deal would require approval from Renault and cannot proceed without it before September 2026.
After this date, Otro Capital would gain greater freedom to sell its shares without requiring Renault’s approval, potentially making the bids from the two F1 heavyweights less attractive if the consortium chooses to maximise its return.
One factor that could work in Toto Wolff’s favour with the Renault Group is the existing relationship between Mercedes and Alpine. Wolff could potentially build on that partnership to create a closer “sister team” dynamic between Alpine and Mercedes.
Since this season, Mercedes has supplied the Enstone-based team with both gearboxes and power units, with Alpine becoming a Mercedes customer after shutting down its own power unit programme at Viry-Châtillon last year.
An Alpine spokesperson told PlanetF1.com:
“The team is regularly approached and contacted by multiple parties and potential investors.
“We do not comment on specific names or individuals. Any discussions are not a matter for the team; they take place between the current stakeholders and parties expressing interest.
“Our primary focus remains on the immediate task at hand — the start of the racing season and delivering a sustained recovery in on-track performance.”
A Mercedes spokesperson added:
“Mercedes is a key strategic partner of Alpine, and we are being kept informed of the latest developments.”
Wolff’s involvement in the bidding process would reignite a long-running rivalry between two of the most successful team bosses of the 21st century. Over the years, Wolff and Christian Horner’s relationship has ranged from mutual respect to open hostility.
If Wolff’s bid were successful and he became a minority shareholder, it would likely reopen the debate over individuals holding stakes across multiple Formula 1 teams and the potential conflicts of interest such arrangements could create.
This issue has been raised repeatedly in relation to Red Bull, which owns both Red Bull Racing and its sister team, Racing Bulls.
A final decision on the sale may still be several months away. In the meantime, Horner is believed to be in a position to return to the F1 grid if the right opportunity arises.
Speaking at the European Motor Show in Dublin in January, Horner admitted he still feels he has “unfinished business” in Formula 1. However, he made clear that any return would involve taking an ownership stake in the team he joins.
Beyond the Alpine bid, Horner has also been linked to the team principal role at Aston Martin. That position is currently held by Adrian Newey, although his appointment is believed to be a temporary solution following the departure of former boss Andy Cowell.
Following his split from Red Bull, Horner is expected to be a free agent by the summer, potentially making him an option for Aston Martin owner Lawrence Stroll.
However, such a move would raise questions about whether Newey would be willing to work alongside Horner again. While their personal relationship is thought to have improved, Horner joining Aston Martin now — after a difficult start to the 2026 season — could create the impression that Newey, already a shareholder in the team, requires support after only a short spell as team principal.
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