Otro Capital, the private equity firm that owns a 24% stake in the Alpine F1 team, is reportedly exploring a purchase of a stake in the Miami Grand Prix. The move has raised eyebrows in the paddock, especially since Otro is simultaneously looking to offload its Alpine shares.
According to a Front Office Sports report, Otro is in talks with Miami GP owner Stephen Ross to acquire up to 20% of the event. The Miami GP declined to comment, but sources familiar with the situation suggest the report is accurate, though no agreement has been reached.
What makes this intriguing is that Otro has been trying to sell its 24% stake in Alpine. Negotiations with several parties, including Mercedes and former Red Bull boss Christian Horner, stalled. Renault, Alpine's parent company, chose to pause discussions, leaving Otro's stake still on the market.
However, the interest in Miami GP indicates that Otro hasn't lost its appetite for F1. Instead, it seems the firm is looking to cash in on a profitable investment. In 2023, Otro paid $200 million for its Alpine stake, valuing the team at around $900 million. Now, it is reportedly seeking more than $700 million for that same stake, reflecting the soaring valuations of F1 teams.
For the Miami GP, having a major investor like Otro would be a strong vote of confidence in the event's long-term prospects. Miami is no ordinary race. In just five years, it has evolved from a novelty to a firmly established event on the calendar, with the joint-longest contract running until 2041, shared with Austria.
Miami GP president Katharina Nowak, the youngest race promoter in F1, insists the team is not resting on its laurels. "Our strategy for the Miami GP is to always be innovating, to always be challenging the status quo," she told The Race in an exclusive interview. "We look at our campus as a fresh start every year. We take feedback and data, and think about how to improve."
This progressive approach keeps Miami relevant amid fierce competition for F1 calendar slots. If Otro does indeed come on board, it would be more than just money—it would be an endorsement that Miami and F1 as a whole have a bright future. Meanwhile, the fate of Otro's Alpine stake remains uncertain, but one thing is clear: F1 remains a magnetic investment.
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