Steven Cohen is offering $600 million for a stake in "Alpin"
American billionaire and owner of the New York Mets baseball team, Steven Cohen, has emerged as the leading contender to acquire a 24% stake in the Alpine Formula 1 team.
According to insiders, the businessman has already submitted an official offer to the Otro Capital consortium.
The potential deal is valued at over $600 million. This reflects the team’s rapid rise in value, as Otro Capital acquired the same stake in December 2023 for just $218 million.
Stephen Cohen, 69, whose fortune is estimated at $23 billion, is known for his aggressive investment strategy.
He is the founder of the hedge fund Point72 Asset Management and has a reputation as an owner who spares no expense in developing his sports assets.
Currently, Cohen is one of the three main contenders for a stake in the French team.
His competitors include an investment group linked to former Red Bull CEO Christian Horner, as well as automotive giant Mercedes.
“The owner of the New York Mets is one of at least three parties that have submitted a bid to acquire Otro Capital’s 24% stake in the Enstone-based organization,” reports PlanetF1.
Interestingly, according to current documents, Otro Capital has the right to sell its stake only after September 2026.
However, the parent company, Renault Group, may initiate an early exit for investors in order to attract new capital.
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