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Reports have emerged claiming the Anglo-French operation is up for sale with the only condition that any new owner retains a Renault power unit.
The French manufacturer is the majority owner of the squad, which races under its boutique brand Alpine.
In June, 24 percent of the organisation’s equity was released to a consortium comprising Otro Capital, Red Bird Capital Partners, and Maximum Effort Investments for AUD $326 million.
That transaction valued the team at AUD $1.3 billion and brought with it high-profile minority stakeholders such as Hollywood actor Ryan Reynolds.
According to the team, there are no plans to divest further.
“The rumours and stories about the team being for sale are false,” a team spokesperson said, according to PlanetF1.
“The team is categorically not for sale.”
Alpine has faced a torrid season thus far in 2024 with an underperforming car that has left it 10th and last in the constructors’ championship after four races.
Internally, the team has been in turmoil for some time.
Fernando Alonso left the team at the end of 2022 for Aston Martin, while the squad’s well-documented failings saw Oscar Piastri switch to McLaren.
On the management front, senior figure Laurent Rossi – who many credit with setting the team on its current trajectory – was replaced by Bruno Famin in July 2023.
Famin subsequently axed team principal Otmar Szafnauer and sporting director Alan Permane, the latter having found a new home at RB.
Technical director Pat Fry has also left the organisation, joining Williams.
Claims Renault could sell come as Andretti continues its push to enter Formula 1 with the opening of a new facility in Silverstone.
While the American entity’s application to join the grid as a new team was rejected, it could acquire an existing operation – as it had initially planned with Sauber.
Andretti had signed a contract with Renault for the supply of power units, a deal which expired by the time its application was assessed last year.
There have long been suggestions Alpine would make an ideal candidate for any aspiring entry to acquire.
The challenge now would be raising the capital, with the value of Renault’s 74 percent stake estimated to have risen to AUD $1.23 billion at the end fo 2023.
Renault acquired the team from Genii Capital at the end of 2015 for £1.
