Last year, financial magazine Forbes estimated Ferrari as F1’s most valuable team, external at $6.5bn (£4.8bn), Mercedes second at $6bn (£4.4m). The ranking of the 10 teams in F1 last year placed Alpine seventh at $2.45bn

Horner, who led Red Bull to eight drivers’ titles and six constructors’ championships in 20 years in charge, has not spoken publicly since losing his position at Red Bull.

But he has made it clear privately to several senior F1 insiders that if he returns he wants full control of a team, a role senior to that of team principal and a significant shareholding.

A buy-in to Alpine could not satisfy those requirements, unless Renault was to relinquish its majority shareholding.

He was sacked by Red Bull after a tumultuous two years in which he was accused of sexual harassment and coercive, controlling behaviour by a female employee and a slump in form for the team that bosses felt would not be recovered with him in charge.

Horner always denied the allegations and two internal Red Bull investigations dismissed them.

During 2024, three key employees decided to leave Red Bull, chief technical officer Adrian Newey, sporting director Jonathan Wheatley and head of strategy Will Courtenay.

Following his departure and replacement by Frenchman Laurent Mekies, Red Bull’s form recovered and Max Verstappen mounted a late assault on the 2025 drivers’ title, missing out to McLaren’s Lando Norris by just two points at the end of the season.

Verstappen told BBC Sport in an interview at the final race of last season that he “always had a great relationship with Christian and still to this day, a lot of people, we appreciate what he has done for the team”.

He added: “When sometimes a team has been functioning for a very long time, very well, and then at one point it’s not, and there’s not really also a clear direction out of it, sometimes management makes a big change.”