Otro Capital, the private equity firm that paid $200 million for a 24% stake in Alpine back in 2023 – valuing the team at roughly $900 million – is reportedly in talks to buy into an entirely different corner of Formula 1: the Miami Grand Prix itself. According to a Front Office Sports report, the fund is discussing a potential 20% stake in the race from owner Stephen Ross, though no deal has been finalised.

The irony is hard to miss. While Otro has spent recent months trying to exit Alpine – reportedly seeking over $700 million for its stake during talks with Mercedes – the firm apparently has more faith in the business of running a race weekend than in the team racing at it.

Miami is no random pick. The Grand Prix’s contract runs through 2041, jointly the longest on the calendar alongside Austria’s, and from 2027 Hard Rock takes over as title sponsor while a three-story paddock expansion adds 115,000 square feet and room for 3,200 more guests. Miami GP president Katharina Nowak sums up the pitch plainly: “Our strategy for the Miami GP is to always be innovating, to always be challenging the status quo” – noting two-thirds of the race’s audience comes from Florida itself. Miami GP has so far declined official comment.

Source: The Race (https://www.the-race.com/business/outgoing-alpine-f1-investor-looking-at-miami-gp-stake/)