F1 News: Renault ‘doesn’t need the money’ from Alpine sale – CEO

(GMM) Luca de Meo says Alpine needed a big change in Formula 1 because the brand had become “invisible” using the lame Renault engines.

The Renault Group CEO says making the decision to scrap the works F1 engine program at Viry-Chatillon was “heartbreaking”, but insists it was the result of “months and months of deliberation”.

During that period, angry F1 engine staff at Viry fiercely battled the decision in the form of public protests and even strikes.

“I admire the commitment and tenacity of the people at Viry-Chatillon,” de Meo told L’Equipe. “They have guts, and that’s good news.

“But in Formula 1, we have become invisible. Two more years like this, and the project was going to collapse completely. We have to shake off the downward slope.”

De Meo says using a customer power unit from 2026 – almost certainly a Mercedes – has the doubled-sided benefit of better performance and slashed costs.

“The production costs of Formula 1 power units range between 200 and 250 million per year,” he said, “in addition to an operating budget of 150 million.

“But given our championship standings, we are missing out on F1 bonuses. Sponsors are scarce and we have a hole in our pockets. My shareholders know how to count and Alpine has to make money,” de Meo added.

“With our positions, 16th and 17th, we look like jokers.”

Further, he says the 2026 regulations are a “Frankenstein” solution based on compromise, and denies that Flavio Briatore was brought in specifically to end the engine program and even prepare a solely Enstone-based team for sale.

“I read that he was supposed to repackage the project in order to sell the team in the end,” de Meo said. “That is completely wrong. I didn’t bring him in to get out of Formula 1.

“I see the advantages for us of being in Formula 1. Flavio is at the heart of this revitalization of the project. We are reorganizing the team and we are focusing on Enstone.

“I understand the position of the fans,” he added, “but I cannot decide like them, even if this is a very emotional issue even for me. I am passionate about racing and I had to make a decision against my feelings.

“I am deeply sorry to see so many people disappointed, but this is one of the aspects of my job. I am a manager who runs a listed company. I had to rethink the F1 project and find shortcuts and ways to make it a winner.”

De Meo says F1 has also changed in recent years, with “fans and sponsors” now looking primarily at the team and the car, “not the engine”. “Sponsors sign with McLaren, not the Mercedes that is under the hood.

“There are now more young people, more women – new customers that implies a different interpretation of the sport,” he said. “And sponsors are rare. We are having a slump.

“Alpine has to make money.”

An easy way to make money would simply be to sell the team completely, with de Meo admitting he gets calls “every two weeks” from “eccentric people” willing to buy.

“They know that getting into F1 after 2026 will be much more expensive,” he said. “If I sell them the team for 1 billion, they could resell it in a year for double or triple that. They know that a team will be worth 3 or 5 billion.

“Being in F1 is essential for Alpine. We are in a closed club and this gives credibility to the brand among car enthusiasts. Plus, we do not need this money (from a team sale),” said de Meo, describing Alpine as a “family jewel”.