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Instead, he contested the 1986 Formula 3000 Championship, still with Genoa Racing, and also raced a BMW in the European Touring Car Championship. He also raced a couple of times in F1 with the AGS team. Meanwhile, Cesare Garibaldi, the boss of Genoa Racing, was working with Robin Herd of March to create a new F1 team - with Capelli as a core component in their plans. By now, Capelli and Garibaldi had an almost father-son relationship.

In 1991, Leyton House was responsible not only for chassis development but also bankrolled the ambitious Ilmor V10 engine programme. With so many new ingredients, results were again thin on the ground although Capelli often qualified and raced well. When Leyton House's owner Akira Akagi was arrested in connection with the Fuji Bank fraud, the team was in a precarious state. Capelli had signed for Scuderia Ferrari for the '92 season, so he voluntarily stepped down, allowing pay driver Karl Wendlinger to finish the season and personally paid to attend the races he missed to offer support to the team and advice to his rookie substitute.

In 1992, Capelli became the first Italian to driver for Ferrari since Michele Alboreto in 1988. The Scuderia had gone through a tough time in 1991, but with a new car, the F92A (nicknamed the F-15 on account of its resemblance to the American fighter jet), expectations were high. The new car was not competitive and before the season began Capelli was showing his disappointment. A driver who enjoyed the convivial atmosphere of a family-type team, he struggled to integrate with the bureaucratic structure of early 90s Ferrari. Losing motivation, the team in turn lost confidence in him and his teammate Jean Alesi gained the upper hand. Capelli was sacked before the season's end.

This experience seemingly broke his spirit, but those who had worked with him at March still had faith, notably Ian Phillips, then Jordan team manager. Taking a Jordan seat for 1993 alongside a young Rubens Barrichello, Capelli failed to rediscover the spark that not long ago had marked him as a champion of the future. After failing to qualify for the second race in Brazil, he left the team by mutual consent. Capelli was distraught and Jordan was disappointed too - they knew Capelli had the ability, but he just couldn't muster it up any longer. His F1 career was over.