Discussions about Horner's return expand as obstacles arise.

      At the heart of both situations is Otro Capital.

      Christian Horner's return to Formula 1 is proving to be much more complicated than the initial winter speculation indicated, with discussions reportedly occurring on two different fronts. Following his surprising exit from Red Bull Racing last July, Horner has been frequently associated with a comeback in time for the new regulation cycle. Alpine has been the most consistently mentioned team, but German reports suggest the former Red Bull leader is exploring multiple options.

      As per f1-insider.com, Horner is engaged in talks with Alpine and has also conducted preliminary discussions related to Aston Martin, which is backed by American investors. Central to both situations is Otro Capital, which currently holds a 24 percent stake in Alpine. This group is reportedly considering selling its share due to Alpine's ongoing difficulties, while also looking at a potential investment in Aston Martin alongside Horner. High-profile individuals linked to Otro Capital include Ryan Reynolds and Patrick Mahomes.

      Alpine's shares, purchased in mid-2023 for approximately 200 million euros, are believed to have at least doubled in value. Horner is said to be seeking more than just another team principal role; he is aiming for a co-owner position akin to that of Toto Wolff at Mercedes.

      If he joins Alpine, Horner would have allies, including chief advisor Flavio Briatore, who is seen as a close confidant. Additionally, former F1 chief Bernie Ecclestone has privately encouraged Horner to seek a stake rather than just an employment agreement.

      However, there are significant challenges ahead. Auto motor und sport indicates that Briatore might step aside if Horner ultimately comes on board, but any decision regarding Alpine ownership is unlikely to happen until well into 2026. There are also worries that Horner's involvement could disturb Alpine’s engine partner Mercedes, considering his long-standing rivalry with Wolff.

      Aston Martin brings its own set of issues. Design chief and shareholder Adrian Newey reportedly has little desire for a reunion, partly due to concerns that a Horner-led organization could discourage a future move by Max Verstappen.

      Furthermore, there are contractual challenges. Horner’s severance agreement with Red Bull reportedly includes gardening leave until May 2026, following a payout of about 60 million euros, though it is unclear if this restriction applies to a role strictly as an investor.

      Meanwhile, rumors during the Christmas and New Year period connecting Verstappen’s long-time and noted race engineer Gianpiero Lambiase to Williams or Aston Martin have subsided. 'GP' is now expected to continue in his current position. Reports from the Netherlands suggest that personal circumstances, including serious illness in his family, have contributed to the heightened emotions observed at the end of last season.