Christian Horner's anticipated return to Formula 1 faces a significant new obstacle, with Mercedes team principal Toto Wolff reportedly launching a bid for the same Alpine stake that the former Red Bull boss has been pursuing.
The Alpine Stake Battle
According to reports emerging at the start of the 2026 Formula 1 season, Wolff has initiated his own bid to acquire Otro Capital's 24 percent minority stake in the Alpine F1 team. This development directly challenges Horner's well-documented interest in the same investment opportunity, setting up a potential showdown between two of the sport's most prominent figures.
Horner's Comeback Plans
Christian Horner, who was dismissed from his role as Red Bull team principal last summer after two decades of leadership, has been actively exploring a return to Formula 1 through team ownership. The 52-year-old has been working with a group of investors to potentially purchase Otro Capital's stake in Alpine, the Renault-owned team currently managed by Flavio Briatore.
Horner's interest was officially confirmed by Alpine in January, with the team acknowledging that the former Red Bull principal was among several parties expressing investment interest. Horner has publicly stated he has "unfinished business" in Formula 1 and is particularly interested in acquiring a stake in any team he joins, having also been linked with Aston Martin despite their difficult start to the 2026 season.
Wolff's Strategic Move
Toto Wolff's reported bid comes at a strategic moment, with Alpine beginning their new power unit partnership with Mercedes this season. The Austrian team principal, who enjoyed a fierce rivalry with Horner during their championship battles, particularly during the controversial 2021 season finale, now appears to be competing with his former adversary in the boardroom as well as on the track.
The Telegraph reports that the 24 percent stake, owned by American private equity firm Otro Capital, is valued at approximately £1.5 billion. Otro Capital's investors include prominent sports figures such as golfer Rory McIlroy, boxer Anthony Joshua, and footballer Trent Alexander-Arnold, adding further intrigue to the potential sale.
Ownership Implications
Any potential deal involving either Wolff or Horner acquiring the Alpine stake would raise significant questions about multi-team ownership within Formula 1. McLaren CEO Zak Brown has previously expressed concerns about Red Bull owning two teams in the paddock—the main Red Bull Racing team and their sister outfit, Racing Bulls.
Alpine represents one of three teams, alongside McLaren and Williams, that have entered into power unit partnerships with Mercedes through the end of 2030. Mercedes engines have demonstrated strong performance at the start of this new era, securing a one-two finish in the recent Melbourne Grand Prix.
Official Statements
A Mercedes spokesperson told The Telegraph: "Mercedes is a key strategic partner of Alpine and we are being kept apprised of the latest developments." This statement confirms the close relationship between the two teams while neither confirming nor denying Wolff's reported bid.
Alpine released a more comprehensive statement regarding the situation: "We do not comment on any specific names or individuals. Any discussions are not a matter for the team, they're between the stakeholders and parties expressing an interest. The primary focus is the immediate task at hand which is the start of the racing season and seeing a sustained recovery of performance on track."
The team had previously acknowledged in January that "it is no secret that Otro Capital has held preliminary talks to sell its stake in the team" and confirmed that "one of those parties to express an interest is a group of investors, which also includes Christian Horner."
Horner's Timeline and Options
Christian Horner, who received a reported £80 million payout following his departure from Red Bull, is eligible to officially return to Formula 1 from the beginning of May. Beyond Alpine, he has been linked with several other teams, including Ferrari, though a move to Maranello appears unlikely given his insistence on acquiring an ownership stake in any new team.
Horner's connection to Aston Martin remains noteworthy, given his nearly two decades of collaboration with their team principal and design guru Adrian Newey during their time together at Red Bull. However, Alpine appears to represent his most immediate and concrete opportunity for a Formula 1 return.
Despite their historic rivalry, Horner has revealed that his relationship with Wolff has warmed in recent years, sharing that he received a touching text message from the Mercedes boss following his sacking, as documented in the latest season of the Netflix series Drive to Survive.
The competition for the Alpine stake represents the latest chapter in the ongoing saga between these two Formula 1 titans, now potentially shifting from the racetrack to the boardroom as both seek to shape the future of the sport through strategic investments.
