In recent days, rumors have circulated that the director of the Formula 1 team Mercedes, Toto Wolff, would be interested in buying a 24% stake in the Alpine team, currently owned by a consortium of investors that includes celebrities like Ryan Reynolds, Rob McElhenney, and golfer Rory McIlroy. This consortium paid $233 million for its stake in 2023.
Although it is a minority stake, the interest in this action is high, given the increase in the value of F1 teams under the current Concorde Agreement, which has protected competing teams. The growing interest in F1 in the United States has fostered the increase in the number of Grand Prix, enriching the finances of the teams.
With the market on the rise, significant shares like this are rare, as trusted purposes expect valuations to continue to increase. Last year, George Kurtz, CEO of Crowdstrike, acquired 15% of the shares owned by Wolff for $300 million, which represents 33% of the Mercedes team.
However, it has recently been clarified that the intention does not come directly from Wolff but from the Mercedes team itself, which has profits divided between Jim Ratcliffe, CEO of the INEOS group, and Wolff’s ownership entity, as well as the Mercedes-Benz group.
In this context, the purchase would not be a personal initiative of Wolff, but a move by the Mercedes team. In the paddock, speculation is rampant regarding the strategy behind this acquisition of a stake that would not guarantee a significant role in the management of Alpine.
This could be a smart financial investment, especially if the rise in F1 team valuations continues. Currently, the estimated value of a team like Alpine is around €3 billion, more than double what it was only three years ago.
There is already a collaborative relationship between Mercedes and Alpine, with the Stuttgart team providing the engine and transmission to Alpine, a contract that is in effect until 2030. Nevertheless, the synergies did not guarantee a significant return, considering the imposed budget limits.
Additionally, some see this move as an attempt by Mercedes to reaffirm itself in a team structure that has not always been considered stable in the long term. François Provost, the new CEO of the Renault group since July 2025, is not seen as a great motorsport enthusiast, and it is said that, if the price were right, he would be willing to sell the team without much hesitation.
This situation reflects an evolution of Formula 1 towards a franchise-style model similar to that of the NFL, where, behind the team identities, ownership focuses more on the business of revenue growth than on the brand associated with the teams.
