- Wolff becomes a key name in growing speculation around a possible stake in Alpine.
- Flavio Briatore addresses the rumours and clarifies who is actually involved in talks.
- Several buyers circle a 24% share as the situation develops ahead of China GP.
The question of whether Toto Wolff plans to buy into the Alpine F1 Team has become one of the more talked-about topics in the paddock ahead of the 2026 Chinese Grand Prix.
Speaking in Shanghai during the team principals’ press conference, Flavio Briatore moved to clarify the situation. He said negotiations around a possible purchase of Alpine shares involve Mercedes-Benz Group, not Wolff acting as a private investor.
The discussion centres on a 24% stake in Alpine currently owned by Otro Capital, an American investment group. The consortium bought into the team three years ago in a deal valued at about €200 million. Its investors include actor Ryan Reynolds and golfer Rory McIlroy.
The stake is now being valued at around £450 million as Otro Capital is seeking to sell its share, with several buyers showing interest.
Wolff in the picture, but not at the negotiating table
Speculation has focused heavily on Wolff because of his long record of investing in motorsport ventures. Yet Briatore said Alpine has not spoken with him directly.
“I know it’s a negotiation from Mercedes, not with Toto, with Mercedes, and we see,” Briatore told the media, including Motorsport Week, during the press conference in Shanghai.
He stressed that the process involves the Otro stake only. Renault’s ownership of Alpine remains unchanged.
“Not to forget, we’re talking about the Otro share, nothing to do with Alpine,” Briatore said. “It’s the share of Otro to sell the 24 percent and there are a few candidates ready to do the deal.”
Briatore added that Alpine has had no direct contact with Wolff about the sale. “We have no communication with Toto at this moment. So if somebody buys the shares, we are very happy,” he said, according to Motorsport Week.
The Alpine chairman also ruled out buying the stake himself. When asked if he might join the bidding, Briatore responded: “No, no, no. Just looking [at] what’s going on, and just watching what’s going on.”
Competitive subplot: Mercedes as engine supplier and potential investor
The Mercedes link draws attention for another reason. Alpine has entered a technical partnership with the Mercedes F1 Team beginning in the 2026 season.
The Enstone-based team ended its long-running Renault engine programme and switched to Mercedes power units and gearboxes for the new rules cycle. If Mercedes also buys a financial stake, the relationship between the two teams would grow beyond a normal supplier deal.
Mercedes did not confirm whether Wolff made a bid. However, a company spokesperson said the manufacturer knows about the sale process.
“Mercedes is a key strategic partner of Alpine, and we are being kept apprised of the latest developments,” the spokesperson said.
Reports have also linked Christian Horner with an interest in the stake. His name adds another layer of intrigue to the ongoing negotiations.
Alpine keeps its focus on the track
The team itself has taken a careful public stance. An Alpine spokesperson said the organisation receives frequent contact from potential investors but will not discuss specific names.
“The team is regularly approached and contacted by multiple parties and potential investors,” the spokesperson said. “Any discussions are not a matter for the team; they’re between the current stakeholders and parties expressing an interest.”
The spokesperson added that the team remains focused on racing as the season begins.
“The primary focus for the team is the immediate task at hand, which is the start of the racing season and seeing a sustained recovery of performance on track.”
For now, the outcome remains open. Briatore said three or four buyers are evaluating the 24% stake, and talks change day by day.
Whoever buys the share — whether Mercedes, another investor, or someone new — will gain a financial foothold in Alpine. Control of the team, however, will remain with the Renault Group, which continues to hold the majority stake.
