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Renault’s New CEO Reaffirms Alpine F1 Commitment, Rejects $1.2B Sale Offer
Last season, Alpine finished sixth, securing around $90 million in prize money. But a drop to 10th could cost the team an estimated $30 million in 2026, putting greater pressure on sponsorships and Renault’s willingness to inject additional funds.
Renault Group’s new chief executive, Francois Provost, has wasted no time in addressing mounting speculation over the future of the Alpine F1 Team. In his first major statement since taking the helm, Provost made it clear: Formula 1 remains at the heart of Renault’s strategy.
“Formula 1 is part of our core strategy for Alpine, and this I do not intend to change,” Francois Provost said, emphasizing that the team’s top priority is performance — both in 2024 and with the major 2026 regulation changes.
The reaffirmation from CEO Francois Provost comes after months of rumors suggesting Renault was considering selling Alpine F1. Despite downsizing its F1 operations — including shutting down its costly $260 million-per-year power unit program and switching to customer Mercedes engines in 2026 — the company recently rejected a $1.2 billion bid outright. That’s hardly the move of an owner looking to cash out.
A Tumultuous Era for Alpine F1
Alpine F1’s journey has been anything but smooth in recent years. The team, which rebranded from Renault in 2021 to promote its boutique sports car marque, has endured significant leadership churn and underperformance on track. Despite lofty ambitions like the 100-race plan announced by former CEO Laurent Rossi, Alpine currently sits at the bottom of the Constructors’ Championship.
Flavio Briatore’s controversial return as executive advisor last year signaled an aggressive attempt to steady the ship. Flavio Briatore’s influence has already brought in new sponsorship deals, including MSC Cruises, Claro, and Mercado Libre, boosting Alpine’s commercial portfolio.
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Leadership Reshuffle and Rebuilding Plans
The team continues its rebuilding process. Steve Nielsen, a seasoned motorsport executive with prior Enstone experience, will take over as managing director next month. He fills the leadership gap left by the abrupt exit of team principal Oliver Oakes after the Miami Grand Prix.
For now, Dave Greenwood has stepped up to fulfill aspects of the team principal role in coordination with the FIA.
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Financial Stakes Remain High
Last season, Alpine finished sixth, securing around $90 million in prize money. But a drop to 10th could cost the team an estimated $30 million in 2026, putting greater pressure on sponsorships and Renault’s willingness to inject additional funds.
The F1 cost cap will rise from $140.5 million to $215 million next season due to expanded coverage of expenses, meaning Renault’s reduced engine program costs could free up resources for the team’s chassis and performance development.
With Renault holding a 76% stake in Alpine and valuations soaring as high as $1.5 billion, Francois Provost’s statement sends a clear signal: Alpine F1 is here to stay — and the fight to climb back up the grid is just beginning.
