MERCEDES WITHDRAWS FROM ALPINE F1 TEAM BIDDING PROCESS

Mercedes has pulled its bid for a 24% stake in the Alpine F1 team, currently owned by American investment group Otro Capital. Otro reportedly seeks $720 million for its share, valuing Alpine at a staggering $3 billion – a price Mercedes deems excessive and walked away from. This decision significantly boosts the chances of former Red Bull boss Christian Horner, who is actively pursuing a return to F1 with a financial interest in a team.

Horner has been linked to the Alpine bid and also held talks with Chinese manufacturer BYD about potentially setting up a new team. Renault, Alpine's parent company, retains a veto right on the sale until September and has affirmed it will keep its 76% majority stake, dispelling rumors of a full sell-off. Alpine executive advisor Flavio Briatore's recent comments about needing more experienced leadership align with Horner's potential involvement. The original Mercedes interest had sparked paddock pushback, with McLaren CEO Zak Brown urging the FIA to address future team co-ownership concerns. The bidding war underscores the escalating value of an F1 grid slot.