Renault Group CEO François Provost has conceded that Alpine Formula 1’s partnership with celebrity-backed investment group Otro Capital has fallen short of expectations, describing the arrangement as unsuccessful while stressing the French manufacturer remains firmly committed to the sport.
Otro Capital acquired a 24 percent stake in Alpine Racing in 2023 as part of a €200 million investment alongside RedBird Capital Partners and Maximum Effort Investments.
The deal brought Hollywood stars Ryan Reynolds, Rob McElhenney and Michael B. Jordan into the team’s ownership, with the aim of strengthening Alpine’s commercial profile and global reach.
Speaking at last weekend’s British Grand Prix, Provost made it clear that the Enstone squad’s deal with its minority shareholders had not produced the desired outcome.
“We manage the team. Otro has no right, and no added value, to help us to operate. So we are fully responsible,” the French executive explained, speaking to The Race.
“We are doing the job. The partnership with Otro was not successful. I think we are capable to assess together this. They want to sell, they will get the good benefits.
“They need our agreement to sell, and we’ll do this maybe sooner or later, but from an operation standpoint [there is] no impact, and this is for me the most important.”
Otro has indeed been exploring options to sell its stake, with Mercedes and former Red Bull team principal Christian Horner both linked to the shareholding.
However, Mercedes reportedly withdrew from negotiations after concluding the asking price – said to value Alpine at roughly $3 billion – was too high. Renault retains veto rights over any sale until September.
Renault in no rush over new investors
Despite the uncertainty surrounding Otro’s future, Provost insisted Renault has no intention of surrendering control of its Formula 1 team and will only consider a new minority partner if there is strong strategic alignment.
“For me, there is no urgency. There are two principles. The first one is Renault will keep the control. We do not intend to sell shares,” he explained.
“The second principle is, if ever Otro sells the shares, I want to be sure that with the new one [minority shareholder] we have some intimacy, common goal, and common interest.
“So it’s why I’m not in a hurry.”
It’s ‘common sense’ to stay in F1
Provost's comments come during a period of significant transition for Alpine. The team is now competing with Mercedes customer power units following Renault’s decision to end its works engine programme, while a title sponsorship agreement with Gucci is scheduled to begin in 2027.
Although Alpine endured a disappointing 2025 campaign by finishing last in the constructors’ standings, the squad has shown signs of progress in 2026 and sits fifth after nine rounds.
©Alpine
Provost, who took over as Renault CEO in July 2025 following Luca de Meo’s departure, reaffirmed the company's long-term commitment to Formula 1.
“F1 is by far the biggest sporting event, all categories included,” he said. “You have more than 800 million followers, an additional 100 million a year, and a lot of young people everywhere in the world.
“So when we have the chance to be one of the veterans there, it is common sense that we need to stay and we need to recover the position I think we deserve.”
He added that rebuilding the team remains the immediate objective.
“We want to stay in F1,” he said. “This for sure will not change the strategy. The issue now is to recover, because the [Alpine] team was destabilised. The performance was really bad.
“So it’s why I set as a unique first priority for the team to stabilise and set new strong foundations. This is our objective for this year.”
On the prospect of Renault returning as an engine supplier under Formula 1’s proposed V8 regulations, Provost dismissed any immediate plans.
“I support the V8 direction, but it’s not because it could be an opportunity for Renault to come back as an engine manufacturer,” he said. “It’s not our strategy.
“We can never say never. Yeah. But again, my unique priority is short-term recovery, and strong foundation from this to set up a vision for the team, a new ambition. This is my unique priority, not to come back with an engine.”
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