An important barrier to Christian Horner’s possible return to Formula 1 no longer exists. Renault’s three-year veto on the sale of Otro Capital’s 24% stake in Alpine expired on September 7, opening the way for a potential change in the team’s shareholding structure.
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According to Alpine’s articles of association registered with Companies House, the UK business registry, Renault’s veto right lasted three years and officially ended on the scheduled date.
Horner has been away from Formula 1 since his dismissal from Red Bull in July 2025, after two decades leading the team. During that time, the Briton won eight drivers’ titles and six constructors’ championships.
The Alpine scenario may be particularly interesting for Horner because of Otro Capital’s stake. The group acquired 24% of the team in 2023 for $200 million, when Alpine was valued at $900 million. Since then, the value of Formula 1 teams has increased significantly.
Flavio Briatore, Alpine’s executive advisor, said in August on The Race Business podcast that the team would currently have a valuation of $3.2 billion. In this scenario, Otro Capital’s stake would represent a return close to four times the original investment.
Horner has previously stated that he still has “unfinished business” in Formula 1. For his next project, however, the Briton would not only be interested in returning as team principal. The intention would be to take on a broader role, including equity participation.
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This model is mainly inspired by Toto Wolff, who holds 28% of Mercedes. As Otro Capital seeks to sell its stake in Alpine, the French team appears as the most obvious path for Horner to return to the paddock with a role beyond sports management.
However, the expiration of the veto does not remove all obstacles. Renault can still veto up to three proposals even after September 7, although sources indicate this is not considered a significant problem for a legitimate buyer, as offers can be modified and resubmitted.
Renault CEO François Provost had distanced himself from a possible arrival of Horner in June. At the time, he also stated that Renault intends to maintain control of the team, regardless of who succeeds Otro Capital.
Horner has also been linked to Ferrari amid speculation about Fred Vasseur’s future. The Briton reportedly previously declined the role of head of the Italian team after an approach from president John Elkann, but his name continues to appear in discussions about a possible succession.
A move to Maranello, however, seems less likely precisely because of Horner’s intention to take on a broader role with equity participation. In this respect, Alpine offers a possibility more compatible with the project the former Red Bull chief would be seeking for his return to Formula 1.
