Christian Horner’s hoped-for return to Formula 1 has reportedly been blocked after Renault exercised its influence over the ongoing Alpine stake sale process.
A BBC report claimed that a deal for Mercedes to purchase Otro Capital’s 24 per cent stake in Alpine has fallen through due to disagreements over the valuation.
Otro Capital reportedly want $720 million for their shareholding, a figure that would place Alpine’s total value at around $3 billion.
Otro paid approximately $233 million for the stake as recently as 2023, while Mercedes reportedly consider the team to be worth around $2.3 billion.
With Mercedes stepping away from the deal, the door appeared open for Horner and his group of investors to make a move on the stake.
However, the report indicates that Renault holds a power of veto over any sale of the Otro shares until September, and is prepared to use it.
The report read: “Renault is said to have decided not to continue with any further talks on the matter.”
It further stated that Renault “would have used that to block any sale to a group that had links with Horner.”
A number of private equity groups have also been identified as interested parties in purchasing the Otro shareholding.
Despite the Alpine route appearing closed, Horner has been spotted at an event in Cannes connected to Chinese manufacturer BYD, who have confirmed talks with F1 president Stefano Domenicali about joining the sport.
Horner is said to be in discussions with BYD, with his expertise being sought to help the manufacturer navigate the political and commercial challenges of entering the Formula 1 grid.