Alpine would have “collapsed” in “two years” without the decision to abandon the Renault Formula 1 engine programme beyond 2025, according to CEO Luca De Meo.
Alpine announced last month the expected news that Renault will cease production on the power unit it was working on once F1’s regulations are overhauled in 2026.
There had been much speculation throughout the campaign that would be the outcome as Alpine prepares to revert to a customer team using Mercedes powertrains.
De Meo revealed that Alpine “losing €40 million per day” since he took the reins took on a decisive role in the choice to cancel Renault’s future F1 engine development.
“We’ve been in a downward spiral for three seasons now,” De Meo told L’Equipe.
“Two more years like this, and the project would completely collapse. We had to do something to make a change.”
Alpine losing sponsorship revenue
De Meo divulged that Alpine’s dramatic regression to ninth place in the Constructors’ Championship this season has transpired to cost the team sponsorship revenue.
“We are losing bonuses and sponsors because of our standings,” de Meo added. “We look ridiculous with 16th and 17th places. We are nowhere.“
The Italian, who took on the role in July 2020, asserted that he had to make ruthless calls to ensure that Alpine gets back on the right track ahead of the rules change.
“We needed to rethink the project to finally win,” De Meo added. “I am a manager of a listed company, and I have to make decisions that are best for the business.”
De Meo has no plans to sell Alpine
However, De Meo has reiterated that there are no plans to sell the Enstone-based squad amid rumours that Flavio Briatore was brought back to instigate that process.
“I read that he [Briatore] was supposed to repackage the project in order to sell the team in the end,” de Meo acknowledged.
“It’s completely false. 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 revitalisation of the project. We are reorganising the team and we are focusing on Enstone.
“Every fortnight I get calls from financiers, eccentrics, who want to enter F1. They know that after 2026 it will be much more expensive.
“If I sell them the team for one billion, they could resell it in a year for double or triple that. They know that a team will be worth three or five billion.”
“I won’t sell, I’m not stupid,” he continued. “Being in F1 is essential for the Alpine brand. We are in a closed club.
“It brings credibility for the brand among motor racing fans. We don’t need the money.”
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