Otro waits on Alpine stake sale after failing to reach Mercedes agreement

Otro Capital is retaining its stake in the Alpine Formula 1 team for now after failing to reach an agreement to sell to Mercedes.

The 24% stake was purchased by a consortium led by Otro Capital back in 2023, valuing Alpine at $900 million at the time. Otro started exploring a sale of the stake in late 2025, and RACER understands that Mercedes Grand Prix Ltd – the company that owns the Mercedes F1 team – was identified as the preferred bidder by controlling majority owner Renault.

That was significant due to Renault holding the ability to veto the sale until September of this year, although due to its 76% shareholding it would continue to have input beyond that point. However, sources on both sides of the deal had confirmed at the time that no agreement had yet been reached in terms of a valuation for the Otro stake.

With both Mercedes and Otro still at odds over their valuation, a deal could not be struck between the two and talks have now ended, with Otro understood to be in no rush to sell.

As a result, RACER understands no further discussions are ongoing with any other potential purchasers of the stake at this stage, and as such the process has stopped for now.

The development comes soon after Alpine confirmed a new title partnership with Gucci last week, in a deal that will see the team become known as Gucci Racing Alpine Formula 1 Team. It is believed the initial agreement is for between three and four years, and worth an estimated $160-$200m over the term.

Alpine sits fifth in this season’s constructors’ championship after five rounds, having made the switch from its own power unit to become a Mercedes customer team this year.