Toto Wolff, the long-serving boss of Mercedes-AMG Petronas Formula One Team, once explored the idea of stepping into football ownership alongside Jim Ratcliffe during talks in 2023 about investing in Manchester United. While Ratcliffe’s partial takeover was officially sealed on Christmas Eve that year, Wolff ultimately did not join the move and has since shifted his focus back to motorsport investments.
Having led Mercedes since 2013, the Austrian is now reportedly interested in acquiring a stake in Alpine F1 Team. His attention is said to be on a 24 percent share currently owned by Otro Capital, a group backed by several high-profile sporting figures. Reports suggest that this stake could be valued at close to £450 million, with Wolff potentially leading a bid to secure it.
The situation has also attracted interest from other notable figures in Formula 1, including Christian Horner, who has previously been linked with a possible move for the same shares. Alpine adviser Flavio Briatore had earlier hinted at competing interest in the stake.
Otro Capital first secured its share in Alpine in 2023, backed by “premier investors” from across the sporting world. Among them are former footballers Juan Mata and Trent Alexander-Arnold, alongside boxing champion Anthony Joshua and world-class golfer Rory McIlroy.
Around the same period that Otro’s involvement in Alpine became public, Wolff spoke openly about his relationship with Ratcliffe, whose INEOS group is a key partner of Mercedes. He described their bond as one built on mutual respect and trust, revealing that while he isn’t typically drawn to symbolic investments, he does admire the competitive nature of the Premier League. Wolff also acknowledged Ratcliffe’s emotional connection to Manchester United, noting it as a deeply personal venture for the British billionaire.
Ratcliffe’s minority stake in United was finalised before the end of the 2023/24 campaign, with the Glazer family retaining overall control. Since taking charge of football operations, Ratcliffe has reshaped the club’s structure, bringing in key figures such as CEO Omar Berrada and director of football Jason Wilcox.
On the pitch, United’s fortunes have fluctuated. They finished eighth in the league during Ratcliffe’s arrival season and then slipped to 15th the following year. However, the current campaign has seen a strong turnaround, with the club sitting third after 29 matches and firmly in control of their push for a Champions League place.
