Fernando Alonso set to sign a two-year contract extension with Alpine in the beginning of August 2022: Reports

Alpine is reportedly set to announce a two-year contract extension with Fernando Alonso in the coming few days, according to F1 pundit Joe Saward.

The new contract has reportedly already been inked and is set to be made official on August 1 after the option date on Alonso’s current contract expires. On his blog ahead of the 2022 F1 Hungarian GP, Saward wrote:

“Money is important at Alpine and thus negotiating a new deal with Fernando Alonso has been quite complex as the Spaniard has ideas of his own worth which are, how shall we say, impressive.”

“However, the threat of the team signing up a talented youngster called Oscar Piastri was obviously helpful in the negotiations. Anyway, the word is that Fernando now has a new two-year deal (perhaps one plus one), and this will be announced after August 1 when an option date will pass.”

In the last few weeks, speculation about Alonso’s future with Alpine has been mounting as the Spaniard has made it clear that his goal in the sport is to compete at the front of the grid.

With Alpine focusing on a long-term project spanning several years, Alonso was expected to lose patience and jump ship. Similarly, the hefty salary that the two-time F1 world champion commands was also thought to be a contentious issue, especially as the French squad already has several junior drivers waiting in line for a seat.

Given the team’s form in recent races, combined with Alonso’s impeccable performances, however, both parties seem to have agreed to continue. This comes on the back of Aston Martin being touted as a potential home for Alonso after Sebastian Vettel’s departure at the end of the season.

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Alpine might release junior driver Oscar Piastri after inking new deal with Fernando Alonso

Joe Saward believes that Alpine will have no choice but to release their junior driver Oscar Piastri from their drivers' academy. After inking a new deal with Fernando Alonso, the French squad will have no seats to offer the Australian until at least 2025. Saward wrote:

“This, of course, means that the team will have to release Oscar Piastri unless it can convince him to join Williams for a year or two. However, it seems that Oscar is more interested in an offer from McLaren that would require him ceasing to be part of the Alpine Academy.”

With Alonso staying on, Alpine’s driver lineup will be set in stone for the next few seasons, given that Esteban Ocon is also currently on a long-term deal.

According to recent reports, Alpine is reportedly negotiating a deal with Williams to loan out Piastri for a few seasons, but nothing concrete from it has emerged yet.