It feels like watching someone play musical chairs—but with a ton of money on the line. Not long ago, we explored the possibility of Christian Horner making a high-stakes move for Alpine. After walking away from Red Bull Racing with a £52 million payout, Horner has the financial firepower to act fast. And act fast he has.
Horner has placed a bid for a 24% ownership stake in the Alpine F1 team, positioning himself in a strong spot. But he’s not the only player in this game. Toto Wolff, the Mercedes boss, is also eyeing a piece of the action—though his approach has been less aggressive so far.
To understand the stakes, you need to look at the numbers. Horner has secured backing from heavyweight investment groups willing to pay full market price. His current bid values the entire Enstone operation at roughly $3 billion. That means the 24% stake currently held by the Otro Capital consortium—which includes Ryan Reynolds and Patrick Mahomes—is worth around $750 million. It's a fair offer, and while Wolff has tried to counter, recent reports from RacingNews365 suggest his bid was "very low." There hasn't been a serious attempt from Wolff to match Horner's offer.
But don't count Wolff out just yet. He still holds a trump card. Starting this season, Alpine shut down its in-house Renault engine program to run Mercedes power units. That switch has already paid off, lifting the struggling French squad to fifth place in the Constructors' Championship after just four rounds in 2026. On paper, that might not seem like a game-changer—after all, teams switch engines to improve all the time. But here's the twist: Flavio Briatore, Alpine's executive advisor, is reportedly the one who brought Horner to the negotiating table in the first place.
So who's really winning this bidding war? Horner has the money and momentum. Wolff has the engine deal and influence. For Alpine, it's a win-win—either way, the team gains a powerful ally. But for fans watching from the sidelines, it's one of the most thrilling power plays in recent F1 history.