The shocking news comes after a disappointing start to the season for the Alpine team. French drivers Esteban Ocon and Pierre Gasly are struggling with a bulky and heavy car that lacks power.
Compounding the problem is a series of significant departures from the team, either by resignation or dismissal by Renault Group CEO Luca de Meo, who seems to have the final say. The exodus began with Fernando Alonso leaving the team with which he had won two F1 championships, in favor of Aston Martin.
Subsequently, Oscar Piastri and his management team wisely chose to leave Alpine and join McLaren. This was followed by the dismissal of several senior team members, including team principal Otmar Sazfanauer, who was told his time was up in the middle of the 2024 season.
Since then, there has been a continued departure of consultants and high-level individuals from the team. With no end in sight, Renault Group has made the decision to transfer part of the project to Hyundai, while continuing to develop their engines. They hope to supply teams like Andretti in the future, should they receive approval to join F1 and require a power unit.
It is understood that the Enstone factory will serve as the location for Hyundai’s chassis and aerodynamics department, while Viry will produce the F1 engines, which will be branded with the H logo.
In a snippet of the announcement, Renault CEO De Meo confirmed: “The Alpine F1 team will undergo a transformation and become the Hyundai F1 Racing team in 2026. Renault’s legacy in high-level racing will continue as power unit suppliers for F1, initially for this new project led by Cyril Abiteboul and Andretti Global, should they receive final approval to become the 11th team.”.
“We will use the funds from the acquisition of Hyundai and invest in improving the power and reducing the weight of our power units, which will then be customized according to the customer’s needs.”
De Meo also candidly acknowledges: “I take full responsibility for the lamentable state of the Alpine F1 team and the solution we have now. Like many automotive executives, I believed I could effectively manage an F1 team. I hired the right consultants, including F1 legend Alain Prost and MotoGP expert Davide Brivio, but I failed to seek their guidance.
“I prefer them to remain silent and present a polished image for TV and media in our garage. I disregarded their opinions, thinking I knew better. Under my supervision, I fired individuals left and right, convinced of my superior knowledge. Talented individuals left, and loyal Renault employees were dismissed.
“Humbly, I now realize that I underestimated the challenges of recruiting top F1 talent and the time required, including the mandatory cooling-off period. People warned me, but I chose not to listen. In trying to run the Alpine F1 team my way, I found that no one else wanted to work with us.
“Consequently, I admit that I underestimated the requirements for success in the world of F1 and promise to focus on selling cars for Renault,” concludes the unconfirmed statement attributed to De Meo, which is supposedly set to be released later today.
The head of Hyundai Motorsport and president, Abiteboul, will take over the Formula 1 project. Initially, he will oversee operations at the Enstone base before moving to the Rally factory in Germany. The construction of the Hyundai F1 Research, Design, and Development Campus will begin at this new location to support the project.
Abiteboul successfully convinced Hyundai executives that F1 was the future of their motorsport program. Leveraging his connections at Renault, he secured a favorable agreement for both parties, resulting in funding for the project.
The 46-year-old Frenchman, whose official position will be announced on April 1st, is confident in the project’s prospects. Notably, the team has received support from prominent companies from North Korea, with Samsung emerging as the favorite for the team’s main sponsorship.
Abiteboul has access to a substantial financial reserve to lure Max Verstappen away from Red Bull. The proposed deal, rumored to last three years, is valued at $500 million. It includes an option for a two-year extension, potentially making Verstappen the first billionaire in F1.
Furthermore, Abiteboul’s budget includes a comparable amount to attract Adrian Newey from Red Bull. The offer not only involves a significant financial incentive but also the opportunity for Newey to design his series of high-quality supercars, with a planned launch in 2030.
An official announcement is expected today, according to various sources.
© 2024
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