Flavio Briatore says "the price was too high" of Alpine F1 Team for Toto Wolff and Mercedes

More than 30 years later, the Italian finds himself at the centre of another transformation, this time overseeing the steady dismantling of Renault's proud Formula 1 identity.

With Renault power units already consigned to history and Mercedes engines arriving next year and Gucci set to become the team's title sponsor, Alpine is to be ditched and morphed into Gucci Racing as of 2027.

The changes have come quickly since former Renault chief executive Leo de Meo effectively tore up decades of Renault Formula 1 tradition. The works engine programme has been scrapped, the team has become increasingly detached from its French roots, and questions continue to swirl around ownership after Otro Capital put its 24% stake up for sale.

Speaking in Monaco on Friday, Briatore shed light on both the failed negotiations involving Toto Wolff and the growing significance of Alpine's landmark Gucci partnership.

Mercedes team boss Toto Wolff had been linked with the purchase of Otro's minority stake, with paddock speculation suggesting he saw value in a structure similar to Red Bull's two-team operation. Briatore confirmed talks had taken place but revealed they collapsed only days ago.

Asked about the situation, Briatore explained, "In one way, Otro has nothing to do with the team. Otro's founders bought 24% of the team, Alpine, two years ago and at the moment want to sell, like everybody knows. It was negotiated with Toto Wolff, behind the Williams team, the Mercedes team.

"It looks like three days ago the agreement fell through, all the negotiation. That's basically what happened. It has nothing to do with the team. We don't have any pressure from Renault Group regarding Otro. This is really the problem. Renault Group is not the problem of the Alpine team."

Briatore then offered a blunt assessment when asked why Wolff walked away from the deal: "Very easy. The price was too high. At one point, the guys build up the different prices, and I think... Toto was very fair. I believe it. I don't think the Otro people are fair. Toto, in all the negotiations, was very fair."

Former Red Bull team boss Christian Horner has also been linked to potential investor groups interested in the stake. Briatore confirmed Horner had been involved in discussions at various stages but made clear that Renault remains the gatekeeper for any future transaction.

"Like I tell you before, Otro is a Renault Group problem. It's not really the team's problem. And we have a lot of negotiation around different teams and different people, including, at the time, Christian."

Briatore continued, "For me, whatever solution is found by Renault, I'm very happy to accept whatever solution it is. But whoever buys the share from Otro needs the blessing from Renault. I see it as very difficult for somebody to spend 600 million to buy a minority in one company if it's not agreed with the majority."

The Alpine executive advisor admitted he struggles to understand how any alternative outcome could realistically work: "I don't understand the political doctrine, honestly, because in this moment it's not going to work."

While ownership remains unresolved, Briatore was far more enthusiastic when discussing Gucci's arrival. The Italian boasted that the agreement was one of the biggest commercial deals he had completed during his long Formula 1 career.

"At the time, Benetton was not a luxury brand; it was a brand, and we created a winning team with the brand of Benetton," Briatore recalled.

"Gucci is one of the big deals done, I think, in all my time in Formula 1. We've done Mild Seven; we've done Telefónica and ING. We've done a lot of things, but this one was really difficult to do because there are too many parties involved, and I'm very happy because they're upgrading the team as well."

Briatore believes the partnership will accelerate Alpine's commercial growth: "It's Gucci Alpine and upgrading the team. And the people with Gucci – unbelievable. When we announced the deal, in three days there were one billion visitors on the Wi-Fi.

"But I believe it's good for Formula 1. We had two big luxury brands in Formula 1. We had Louis Vuitton on one side, and Louis Vuitton is a sponsor, a supporter of FOM, but in the arena, this is like the spectator. But in the arena, Gucci is in the arena. Gucci is in the car and is a title sponsor."

Briatore also praised long-term partner BWT but made no secret of the importance he places on the Gucci era: 'We have an incredible relationship with Andreas and with all the group of BWT, but the position of the team, I want to be, I believe, for growing very quickly for the image, as well as financially; the deal with Gucci was perfect. It was really a super deal."

Whether the team ultimately continues as Alpine or evolves into something entirely different remains unanswered. What is clear is that the Renault Formula 1 operation that once won championships with

Fernando Alonso is fading further into history, while Briatore completes an unscriptable, full-circle journey from Benetton to Gucci. The Alpine Formula 1 team is currently valued at an estimated $3 billion.