FIA president Mohammed Ben Sulayem announced a formal review of multi-team ownership rules hours after Bloomberg reported Mercedes' interest in acquiring a 15-20% minority stake in Alpine F1. The review, which Ben Sulayem characterized as addressing "competitive integrity concerns," effectively pauses any cross-team ownership transactions until the FIA World Motor Sport Council votes on revised language. That vote is expected before the British Grand Prix in July.
Mercedes had been in preliminary talks with Renault Group to take a minority position in Alpine F1 Team, according to three people familiar with the discussions. The structure under consideration would have given Mercedes representation on Alpine's board without operational control, similar to the 33% stake Audi holds in Sauber ahead of its full takeover in 2026. Renault declined to comment. Mercedes said only that it "evaluates commercial opportunities consistent with our motorsport strategy."
The timing matters because Alpine is the only team on the grid without a locked power-unit supply agreement past 2025. Renault's board has been weighing whether to continue building its own engines or become a customer team, a decision that carries a €150-200 million annual cost differential. A Mercedes minority stake would have simplified that calculus by securing customer power units at preferential rates while bringing paddock credibility to Alpine's faltering commercial operation. Alpine's title sponsorship revenue fell 22% year-over-year in 2024, per Sponsorship Intelligence data, and the team has churned through three team principals since mid-2023.
Ben Sulayem's intervention reflects a longer governance struggle between the FIA and Formula One Management over who controls grid composition. Liberty Media, which owns Formula One Group, has quietly encouraged ownership consolidation to stabilize the grid and protect the $200 million anti-dilution payment each existing team receives under the Concorde Agreement. The FIA, which retains regulatory authority under its 100-year commercial agreement with FOM, sees multi-team ownership as a threat to sporting independence. Ben Sulayem used nearly identical language in 2023 when blocking a proposed merger between Haas and Andretti Global.
The review also complicates Audi's entry. While Audi's Sauber deal predates any new ownership restrictions, the FIA could impose operational firewall requirements—separate technical facilities, independent personnel, arms-length commercial terms—that would inflate Audi's €500 million budgeted integration cost. Audi declined to comment but is understood to have legal opinions asserting its transaction is grandfathered under current FIA statutes.
For Mercedes, the Alpine stake was attractive as a hedge. If the 2026 power unit regulations prove more expensive than modeled—current estimates are €75-90 million per manufacturer annually—selling customer engines to Alpine at cost-plus margins would have softened the business case. Mercedes already supplies McLaren, Williams, and Aston Martin, but those deals were signed under prior technical rules. Alpine would have been the first customer committed under 2026 regs, establishing pricing precedent.
The governance question now moves to the World Motor Sport Council, where Ben Sulayem controls the agenda but not the votes. The council has 28 members representing national sporting authorities; Liberty Media has relationships with several through broadcast and promoter agreements. If the council votes to tighten multi-team ownership rules, any new language would require unanimous approval from the ten existing teams under Concorde. That gives Mercedes and Audi effective veto power, setting up a three-way standoff.
Renault Group CEO Luca de Meo is scheduled to present Alpine's strategic review to the board in late May. Without the Mercedes option, Alpine's choices narrow to continuing as a works team at full cost, becoming a customer of Ferrari or Honda, or withdrawing from Formula One entirely and selling the entry. The $1 billion grid slot valuation suggests selling, but Renault has historically viewed F1 as brand-critical for its performance sub-brands Alpine and Renault Sport.
Watch for Audi's formal response to the FIA review, expected within two weeks. Watch also for which council members speak publicly; silence from North American and Middle Eastern delegates would signal Liberty's lobbying is working. The next material event is the FIA's quarterly financial filing in early June, which will show whether Ben Sulayem's governance push is supported by the member federations who fund the FIA's operations. If those federations stay quiet, the review dies in committee. If they echo Ben Sulayem's concerns, Mercedes may need to wait until his term expires in December 2025.
De Meo's board meeting is May 24th. That's 19 days to find another buyer or defend the status quo.
The takeaway
FIA review freezes Mercedes-Alpine deal and forces Audi to defend its Sauber structure; outcome hinges on June vote that could reshape grid ownership into 2030.
formula onefia governancemercedesalpineteam ownershiprenault
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