Toto Wolff, team principal of the Mercedes-AMG Petronas Formula One Team, has reportedly submitted a bid to acquire a 24% stake in the Alpine F1 Team currently held by Otro Capital. His offer places him in direct competition with Christian Horner, who is leading a consortium that has also expressed interest in purchasing the share.

Multiple bids are said to be under consideration, with estimates valuing Alpine at around £2.5 billion, suggesting that the 24% stake could sell for roughly £600 million.

If completed at that level, the deal would represent a substantial gain for Otro Capital, whose investors include Ryan Reynolds and Rory McIlroy, after buying the stake for €200 million about three years ago.

Both Wolff and Horner are viewed as attractive potential partners by Renault Group, Alpine’s parent company, largely because of their deep experience and influence within Formula 1.

However, any transaction must be approved by Renault until September 2026. After that date, Otro Capital will have greater freedom to sell its stake independently, potentially changing the dynamics of the bidding process.

Wolff’s proposal may benefit from the existing technical partnership between Mercedes and Alpine, with Mercedes-AMG Petronas Formula One Team currently supplying the Enstone-based team with power units and gearboxesfollowing Alpine’s decision to end its in-house engine programme at Viry-Châtillon last year.

This relationship could potentially evolve into a closer strategic alliance if Wolff’s bid is successful.