Alpine’s ownership picture could be about to change after key date passes

A change in Alpine team ownership can now be made, with Otro Capital’s stake in the Enstone-based squad reaching a key date.

Company documents for the Alpine F1 team show that a key date of limitation placed upon Otro Capital’s share in the team has been reached.

Alpine ownership change possible after Otro Capital restriction expires

Otro Capital, a minority shareholder and holder of 24 per cent of the team together with RedBird Capital Partners and Maximum Effort Investments, is now in a position to be able to sell its stake, should the investment company wish to do so.

Earlier this year, PlanetF1.com’s research showed that Otro Capital had limitations in place regarding a sale or transfer of its shares, whether partly or in full, to a third party, with those shares held under a legal shareholder entity named Forest Intermediate Holdings.

Having purchased the 24 per cent at a cost of $200 million in June 2023, the valuation of Alpine – as with all the other teams – has skyrocketed in the intervening 39 months.

In August 2026, Flavio Briatore told The Race Business podcast that his understanding is that the team is worth a valuation of $3.2 billion, which would represent roughly a 4x return for Otro Capital since its purchase.

According to documentation lodged in the United Kingdom, such a sale can only occur “after the date which is three (3 years) after the date of adoption of these articles.”

During this three-year period, the company Articles of Associations showed that Otro Capital could only freely transfer its shares back to Alpine/the parent Renault Group, or a permitted affiliate transfer such as an internal company restructuring.

However, the documentation shows that the prescribed measures binding Otro Capital were adopted on September 7 2023, meaning that as of September 8 2026 – Tuesday – Otro Capital can now sell its share to an interested third party without the express consent of the Renault Group: however, there are still stipulations outlined.

It’s been known for several months that Otro Capital has been exploring its options to cash in on its returns, with potentially interested bidders including Mercedes and a consortium headed by former Red Bull boss Christian Horner – two interested parties that were believed to be the leading options for Renault as it seeks an active investor that can contribute to the sporting effort of the team, rather than being a passive observer.

Horner is known to be seeking a shareholding in his next Formula 1 career challenge, with him seeking a return to the sport following his axing after last year’s British Grand Prix, but has stressed that he wishes to have skin in the game to make a grid comeback.

In May, Mercedes and the Renault Group ended discussions about the Otro Capital stake, with the mooted $720 million price tag reportedly seen as overvalued.

This could be seen as clearing the way for a Horner-led consortium, or any other buyer, although certain purchasing stipulations can still apply to Otro Capital’s attempts to sell; sources have suggested there are “multiple” parties interested in the stake.

Sources have indicated that Renault can still veto offers, to a maximum of three such knockbacks, after the September 8 date, but this is not thought to represent a serious hurdle to any serious bidder, as bids can be altered and renewed.

Article 39 of Alpine’s article of association stipulates that restricted persons or excluded purchasers cannot buy the shares with prior written consent from Renault, even after this date, with these defined quite broadly: a restricted entity could be one going through certain insolvency circumstances, certain competitors/persons involved in a competing business, or persons connected with specific sanctioned or restricted jurisdictions.

It can also refer to an entity or affiliate from an automotive OEM, and/or an operator of a Formula 1 team.

However, it’s worth remembering that, while the Renault Group may be seeking a shareholder that can add to the competitive element of the Alpine F1 Team, this is less of a consideration for Otro Capital, which is likely to only seek maximum return on its investment: meaning that only the highest bidder might be considered.

What does seem certain is that, with Otro Capital actively seeking a way out of its share, the passing of the all-important date of restriction means clarity regarding the 24 per cent shareholding in Alpine could be imminent.

More on Christian Horner from PlanetF1.com

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Separately, speculation has also re-emerged to link Horner with the team boss role at Ferrari, with the Scuderia’s disappointing weekend at Monza understood to have got a poor reception from senior figures, including chairman John Elkann.

While sources have suggested that Fred Vasseur’s role is still safe, losing control of brewing driver tensions and a failure to deliver on the potential of this season could exacerbate the situation, and potentially open the door for Horner.

It’s long understood that Horner has fielded several approaches from Ferrari in recent years, including over the past 12 months, but with Vasseur continuing to achieve enough to retain his position at the helm.

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