The battle for a stake in Alpine has taken an intriguing turn, and it's not just about dollars and cents—the FIA is now stepping into the ring. At the heart of the matter is a growing concern over multi-team ownership in Formula 1, a topic that's been reignited by reports that Mercedes is eyeing a piece of the French outfit.

Here's the backstory: Otro Capital, which purchased a 24% share of Alpine for $233 million back in 2023, has put that stake back on the market. With the soaring value of Formula 1 teams, Alpine is now estimated to be worth around $3 billion, meaning that stake could fetch as much as $720 million. That's a hefty price tag, and it's attracted some serious interest.

For a while, former Red Bull team principal Christian Horner was seen as the frontrunner. But the game changed when Mercedes—already supplying engines to Alpine under a deal that runs through at least 2030—entered the race and appears to have surged ahead. Alpine's de facto boss, Flavio Briatore, clarified the situation, noting that it's Mercedes as an entity, not specifically team boss Toto Wolff, that's in negotiations. "Every day is a new situation," Briatore said. "But what I want to say, I know it's the negotiation from Mercedes—not with Toto, with Mercedes—and we'll see."

Now, the FIA is weighing in, and its position is, at best, diplomatically tangled. FIA president Mohammed Ben Sulayem spoke at the Miami Grand Prix, making his personal stance clear while hedging on the bigger questions. "Who isn't interested in Otro's share?" he asked. "Really, everyone's in the running. But I believe that owning two teams, as long as it's for the right reason… and what is the right reason?"

Ben Sulayem elaborated: "As long as you're not trying to take control of a team simply because you don't want others to, or to gain more voting power when drafting rules, then maybe it's acceptable. But I believe that having two teams is not the right approach. That's my personal view, but we are looking into it because it's a complex area. We've tasked our teams with investigating to see: Is it possible? Is it allowed? Is it the right thing to do?"

For fans and insiders alike, this is a pivotal moment. The FIA's investigation could shape the future of team ownership in F1, potentially setting a precedent that affects not just Alpine and Mercedes but the entire grid. As the sport continues to grow in popularity and value, the question of who holds the reins—and how many teams they can hold—has never been more important. Stay tuned, because this story is far from over.