Renault’s intervention over sale of Alpine F1 team

Renault intervened to end talks over the sale of co-owner Otro Capital’s share in its Formula 1 team because it was not satisfied with the progress being made.Mercedes was in discussions to purchase Otro’s 24% minority stake in the Alpine-branded F1 team but withdrew at the end of last month.In Monaco, Alpine F1 boss Flavio Briatore said that was because “the price was too high” – it was reported that Otro set a price of $720million for its stake, more than triple what it paid in 2023.Briatore said he felt Mercedes boss Toto Wolff was “very fair” in negotiations but added: “I don’t think the Otro people are fair.”Ex-Red Bull boss Christian Horner has also been involved in a consortium that is interested in Otro’s shares, so could be perceived to be best placed now that Mercedes has withdrawn.However, Renault has a veto right on Otro …