Christian Horner is back in the spotlight over Alpine’s future as a possible sale of a minority stake enters a more concrete phase. According to Sportico, Otro Capital has appointed BDT & MSD Partners to explore a sale of its 24% holding in the Formula 1 team.

What is being offered?

The process concerns the outside investors’ stake, rather than the entire team. Renault retains the remaining 76% and control of Alpine. A new minority shareholder would therefore not automatically mean a new owner running the operation or a change of team leadership.

Otro led the consortium that bought into Alpine in 2023, in a transaction valuing the team at about $900 million. With the three-year restriction on reselling the holding now expired, the investors can examine a potential exit.

Why Horner is part of the story

The former Red Bull boss has been linked with a return involving an ownership stake. Alpine confirmed in January that an investor group including Horner had expressed interest. That earlier confirmation does not establish that he has submitted a current bid or secured a management role.

An arrangement combining investment with operational responsibility would give any comeback a different character from a straightforward appointment. It would also tie his position to the team’s longer-term direction.

Interest without an agreement

Flavio Briatore said in September that at least seven investors were ready to buy the stake. Reports now point to offers being received, but no buyer or final agreement has been announced.

Hiring financial advisers adds substance to the process without guaranteeing a transaction. Price, shareholder rights and the relationship with Renault would all matter to any eventual agreement. Buying a minority interest and obtaining authority to run a racing team are separate questions.

The next meaningful step

A preferred bidder or an official agreement would represent the next clear development. Until then, Alpine remains a possible route back into F1 for Horner rather than a confirmed destination. The sale process is the news; his eventual involvement is still unresolved.

Sources: Sportico, via Nextgen-Auto · Formula1.com