P1racenews AI automatic summary:
Mercedes has withdrawn from the bidding process for a stake in the Alpine Formula 1 team
Mercedes has pulled out from the bidding process for a stake in the Alpine Formula 1 team due to the sale price being higher than what it is willing to pay. Otro Capital, the current shareholder, is seeking around $720 million for the stake, valuing the team at around $3 billion – more than Mercedes is willing to invest. This decision increases the chances of former Red Bull boss Christian Horner pursuing the opportunity. Alpine CEO Philippe Krief emphasized that Renault will retain the majority stake and Alpine is in no hurry to make a decision regarding the sale. Mercedes clarified that they were not planning to turn Alpine into a junior team, but were interested solely in a financial stake for long-term investment purposes.
