Briatore reveals staggering $3.5bn Alpine F1 valuation as Otro Capital receives bid

Renault has received an offer for Otro Capital’s 24 per cent stake in the Alpine Formula 1 team, with Flavio Briatore claiming the bid values the Enstone outfit at a staggering $3.5 billion.

The Renault Group and Alpine sold a 24% stake in the Formula 1 team in 2023 to Otro Capital, who counts Ryan Reynolds, Travis Kelce and Rory McIlroy amongst its group of investors.

Renault values Alpine F1 team at $3.5bn amid Otro Capital stake bid

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The 24 per cent equity stake was sold for $200m, with the team valued at $900m at the time.

That number has since escalated.

Two years after buying into Alpine, Otro Capital is looking to sell its stake in the Formula 1 team and former Red Bull team principal Christian Horner has lodged a bid.

But the asking price just for Otro’s shares, according to Briatore, is closing in on the $900m that Alpine was valued at when the investment company bought into Alpine.

Put to the de facto Alpine team principal that Forbes valued the F1 team at $2.45 billion, Briatore argued against that.

“No, no, we are more,” he told Darren Cox in The Race Business’s ‘In Conversation With…’ series.

“We have an offer, we have an [offer] for the 24 per cent of Otro, the valuation [is] 3.2 [billion].

“So we have 40% of the valuation of Renault. All [of] Renault is worth 8.3.

“And we’re working at this 3.5 [billion] valuation. So we’re representing 40% or 50%.”

It has Briatore joking that he would’ve sold the team in its entirety if he was the owner, “If the team was mine, I’d have sold already!”

However, as revealed by PlanetF1.com earlier this year, company documents filed in the UK show that Otro Capital cannot freely transfer its stake until September 2026, with Renault believed to have approval rights over any potential transaction until that time.

While prospective suitors for the Alpine stake are currently unknown, bar Horner, Renault Group holds the right until next month to veto a buyer.

“Not really my problem, this is more the issue of Renault,” said Briatore.

“Sure, to have a partner, of 24%, I expect somebody to give not only the finance, [but to] give some help in technology or whatever, or whatever in finance.

“But in September, I don’t think nothing [will] happen dramatically, because I see it as very difficult for somebody to buy 24% of one company, with no agreement with the majority.

“I never see somebody spend 600 million to buy a minority, to be signed as partner, if you don’t agree with the majority. See what happens.

“Renault is negotiating. For the team point of view, for me, it makes no difference. We have Otro, now tomorrow we have somebody else.”

That has, at least for now, given Renault the right to say no to Horner, with Renault determined to maintain control over the Formula 1 team. Horner is understood to be pursuing a shareholding or ownership position in his next F1 career challenge.

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Renault Group CEO Francois Provost told the Press Association in June: “There is no discussion today with Christian.

“We are assessing the options. I want the Renault Group to keep the control of our team, whoever could be the successor of Otro.

“I would like to make two comments about this.

“The first one is that this Otro issue doesn’t impact us at all as a team because we are in control.

“And the second point is that we will keep control of our Formula 1 team. Alpine is an independent team, and we intend to keep control.”

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