Formula 1’s brave new era begins in earnest in Barcelona on Monday with a behind-closed-doors test of the 2026 cars which have undergone a generational overhaul for the coming season.
Conjecture has been rife over which teams may have got the edge over their rivals ahead of another 24-race season, which will steadily become clear between the start of the five-day test and the opening race in Australia in March.
Absent for both, as he was for the last 11 grands prix of last season, is Christian Horner, although his name has been prevalent on his rivals’ lips with all manner of rumours of where he might turn up next.
Ferrari move ‘improbable’
Red Bull’s former team principal is free to join another team at the end of April and has been linked to myriad roles behind the scenes from joining Adrian Newey at Aston Martin, which was later quashed by owner Lawrence Stroll, to replacing Fred Vasseur at Ferrari.
Horner wants a place back on the grid but not in the ilk of his time at Red Bull.
At the heart of any move is a stake within a team and, while the Ferrari rumours have not totally evaporated, that makes such a switch the least probable option on the table.
Alpine deal could be worth half a billion
His likeliest destination remains Alpine although that is not without its own stumbling blocks.
Horner is in talks to buy the 24 per cent stake owned by Otro Capital, whose key investors include the likes of Ryan Reynolds, Rory McIlroy and Anthony Joshua.
A minority share in Alpine would not come cheap (Photo: Getty)Otro’s current asking price is believed to be $800m (£595m), which would value Alpine at $3.33bn (£2.5bn) but Horner does not lack for funds: while his backers have not been named, they include wealthy individuals, banks and companies from relationships accrued over his years as Red Bull Racing’s CEO.
And Horner is willing to invest his own money too in any deal as required having banked £80m in his severance package from his former employers.
The Otro ownership deal with Alpine’s majority owners, Renault, means the French manufacturer can dictate the terms of the sale until September, and hence dictate the buyer. They are not believed to have an issue with that being Horner.
Flavio Briatore (left) may have to leave to make way for Horner (Photo: Getty)If given the green light by all parties, it could progress rapidly but it is also still conceivable that any buy-in could also fall through.
Flavio Briatore is currently the de facto team boss and it’s unlikely there would be any room for him should Horner come in as CEO and team principal, which is his preferred option, although the Italian will not necessarily go quietly.
Team Horner?
Alpine seems to be the preferred Horner route back to the grid and the most immediate – his first race could be as soon as Miami at the beginning of May – but there is also the possibility of starting a team from scratch.
The sport’s governance allows for a 12th team on the grid with 11 currently in place after the addition of Cadillac for 2026. And owners Liberty Media are certainly keen to get Horner back in their Drive to Survive quest for characters on the grid. No one has been able to fill the void of the Netflix series’ pantomime villain since his departure in the wake of the British Grand Prix.
That would be the more expensive and lengthy route back to the paddock. Either way, Red Bull will be watching closely. There are no shortage of staff loyal to Horner, who would be tempted to work under him at a team with his proven track record.
A shock Red Bull coup
One outlier is a return to the Red Bull family. Approaches to buy Racing Bulls have been rebuffed in the past but, with F1’s stock so high currently, Red Bull could be tempted to focus on just one F1 team going forward.
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Such a deal would also free up further capital for the brand to invest in its widening sports portfolio with the NBA seen as one of its possible next targets.
And intriguingly, despite having been axed by the man in charge of Red Bull’s sports portfolio, Oliver Mintzlaff, the pair remain on speaking terms with the German talking up Horner’s input at the US launch of their new in-house engine last week.
For Horner, the key is there is no great rush whatever route he takes.
While keen to get back on the grid, he wants it to be the right role and with the right stake to enable to him to be in for the long-term.
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