P1racenews AI automatic summary:
Mercedes has ended its bid to buy a minority stake in the Alpine F1 team, believing the team is overvalued, leaving the fate of the shares uncertain.
Mercedes has decided to withdraw its offer to purchase a minority stake in the Alpine Formula 1 team due to believing the team is overvalued, casting uncertainty on the fate of the shares. Speculation has been mounting regarding the future of Alpine, particularly as Otro Capital sought to sell a 24 per cent stake in the team. Toto Wolff had tentatively agreed to buy the stake, sparking rumors that Mercedes might turn Alpine into a B Team to support their main operation. However, Otro’s asking price of $720m (£536m), valuing Alpine at $3bn (£2.2bn), was far above Mercedes’ target of $2.2-2.4bn (£1.6-1.8bn). Discussions have reportedly ceased, with Wolff yet to comment on the situation. With Mercedes out, the focus now shifts to who will acquire the available share, with Christian Horner previously linked but talks having stalled. Alpine recently secured a title sponsorship deal with Gucci, marking a new chapter for the Enstone team, led by Flavio Briatore. The Renault Group retains the majority stake in Alpine, which currently runs with Mercedes power units after discontinuing its own development program.
