Both Williams and Alpine are interesting stories in F1 this year. Neither team is fighting for the championship; they are midfield fighters this year, with Alpine leapfrogging Willams after a surprise finish on the double podium last week at Interlagos in Brazil.

While Alpine may be higher in the rankings, or in the constructors’ standings as F1 calls it, Williams is on the rise.

The team has signed a number of high-profile partners in recent years, including Duracell (BRK-B), Gulf Oil, Michelob (BUD) and Broadcom (AVGO) among the big names. The team this year signed Japanese industrial giant Komatsu (KMTUY) and Latin American e-commerce site MercadoLibre (MELI), as well as re-signing energy company Gulf Oil.

The team is also majority owned by US private equity firm Dorilton Capital. Vowles believes Dorilton is an asset to the team, which is surprising given the reputation of PE operators with sharp elbows.

“This is not what I would call traditional private equity; this is not about getting a multiple and selling out. This is about getting a team back to where it deserves to be, winning world championships,” Vowles said of the ownership structure of the team.

Vowles added that he has learned a lot from Dorilton about how to transform an organization from the ground up, and that the VC firm has provided Williams with the investments it needs, both now and to finance projects whose it can take years before they bear fruit. Surprisingly, Vowles also said he speaks to Williams’ board of directors almost every day.

Alpine F1 is another interesting story. The team is majority owned by French car manufacturer Renault (RNLSY), and the name Alpine refers to Renault’s legendary performance brand. But the team is also in the midst of a transformation. It has a new owner in the form of major celebrities and sports icons such as actor Ryan Reynolds, NFL quarterback Patrick Mahomes and top golfer Rory McIlroy.

The team has also decided to no longer build its own engines and instead source its engines from Mercedes, which Williams F1 also does.

The changes at Alpine have led to rumors that the team is for sale, with suitors like GM reportedly knocking on the door.

While he did not immediately deny that the team was for sale, as did Williams’ Vowles, Oakes believes the right structure and ownership are in place.

“I think people can now really see that the support from Luca (De Meo, Renault CEO), from the group, the kind of direction we have taken with the pursuit of the best engine, to really put the team at the forefront places. putting our foot forward and climbing back onto the grid – I think these are exciting times for the team,” said Oakes.

“You know, for the first time I think there is also real leadership and real support, so it looks good for the future,” he added.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him Tweet and on Instagram.

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