Flavio Briatore says “fair” Toto Wolff not at fault but Otro Capital is for fallout of talks, as he address on Christian Horner and signing Gucci-Alpine F1 deal.
After extensive discussions between Mercedes and Otro Capital regarding the buyout of 24% stake in Alpine F1 team, the talks derailed due to the higher price charged. The German manufacturer felt the valuation of the team hovers at 2.2-2.4 billion dollars instead of three.
This led to end of discussions, as Alpine executive Briatore blamed Otro Capital for charging high price. He backed Mercedes F1 chief Wolff to be the “fair” one between the two. The Italian, though, reiterated that he was not involved in the talks, which was solely between the two concerned parties.
Briatore says Toto Wolff was ‘fair’ in discussions with Otro
“In one way, Otro is nothing to do with the team,” said Briatore to media in press conference in F1 Monaco GP. “Otro, its founders bought 24% of the team, Alpine, two years ago, and in the moment want to sell, like everybody knows.
“It was negotiated with Toto Wolff behind the Williams team, the Mercedes team. Looks like three days ago the agreement fell, all the negotiation. That’s basically what happened. It has nothing to do with the team. We don’t have any pressure from Renault Group regarding Otro.
“This is really the problem. Renault Group is not the problem of the Alpine team. Very easy. The price was too high. At one point, the guys build up the different price and I think… Toto was very fair. I believe it. I don’t think the Otro people are fair. Toto, in all the negotiations was very fair,” summed up Briatore.
Money for minority stake is huge commitment for buyer
The Italian insists that he has no problem whoever Otro Capital sells the shares to. The company, though, has to get the buyer in the clear from Renault Group. He feels it is difficult for anyone to commit more than 500 million for minority share, without a yes from the majority shareholder (Renault).
“Otro is a Renault Group problem,” said Briatore. “It’s not really the team’s problem. And we have a lot of negotiation around, different team, different people, including, at the time, it was including Christian. For me, whatever solution is found by Renault, I’m very happy to accept whatever solution is.
“But whoever buys the share from Otro needs the blessing from Renault. I see it [as] very difficult for somebody to spend 600 million to buy a minority in one company if it’s not agreed with the majority. I don’t understand the political doctrine, honestly, because in this moment it’s not going to work.”
Briatore is happy to work whoever, even if Christian Horner
On Christian Horner, Briatore isn’t sure if the Brit is still involved with the consortium. But should he line himself to buy from Otro Capital, the Italian will have no issues in working with him. He reiterates that it will be on Renault Group to agree on the potential deal, so it is a question for the management.
“I’d be happy to work with anybody, honestly,” continued Briatore. “I don’t think this is the point. I think the point in this moment is, I don’t know if Christian is involved in some group that want to buy or not. For me, welcome, I have zero problem, especially with Christian.
“I have a super relationship with Christian, know him for 20 years, and we worked together on the engine. I supplied the engine to him at the time with Renault, we called Nissan, and we were working for five years together. Super, zero problem. But this is only the question, guys, with Renault Group.
“You need to talk with Renault, not with me, honestly,” summed up Briatore. Amid the Mercedes-Otro situation, Alpine signed a title deal with Italian brand Gucci from 2027 onward. The team will be named as ‘Gucci Racing Alpine Formula One Team’, with BWT leaving after 2026.
While explaining the idea behind the deal with Gucci, Briatore also thanked BWT for the long-term association. The Italian feels the luxury brand is not only good for Alpine, but also F1 on the whole. He acknowledged that the deal wasn’t easy to achieve, but he is happy it worked out.
Briatore thanks BWT, welcomes Gucci in big deal
“At the time, Benetton was not a luxury brand, it was a brand and we created a winning team with the brand of Benetton,” said Briatore. “Gucci is one of the big deals done, I think, in all my time in Formula 1. We’ve done Mild Seven, we’ve done Telefonica, ING, we’ve done a lot of things, but this one was really difficult to do because there’s too many parties involved, and I’m very happy because they’re upgrading the team as well.
“It’s Gucci Alpine, and upgrading the team. And the people with Gucci, unbelievable. When we announced the deal, in three days there was one billion visitors in the Wi-Fi. But I believe it’s good for Formula 1. We had two big luxury brands in Formula 1.
“We had Louis Vuitton in one side, and Louis Vuitton is a sponsor, a supporter of FOM, but in the arena, this is like the spectator. But in the arena, Gucci is in the arena. Gucci is in the car and is a title sponsor. I want to, as well, thank you to BWT.
“We have an incredible relationship with Andreas and with all the group of BWT, but the position of the team, I want to be, I believe, for growing very quickly for the image, as well financially, the deal with Gucci was perfect. It was really a super deal,” summed up Briatore.
