Alonso set to buy Spanish cycling team

Ferrari F1 team driver Fernando Alonso and his sponsors are one step away to become team owner of the Euskaltel Euskadi Team for an amount of 6 million Euros. This means that the Spanish cycling team has been saved after its main sponsor, Euskaltel, decided to pull out of the sport.

The double F1 World Champion’s great enthusiasm for cycling is well known, apart from including this sport in his daily training routine, he has always felt a special passion for this particular world on two wheels.

Yesterday, the Spaniard sent this tweet into the world: " Fernando Alonso ‏@alo_oficial: I have important news coming these days ... Stay tuned here on Twitter and on the Web.. !!!"

Today, the following statement was issued by the cycling team: "Euskaltel wants to thank the double Formula 1 champion for reaching an agreement and would like to emphasise the respect, understanding and love that Fernando Alonso has shown for the Euskaltel Euskadi team, its professionals, its historical legacy and his hobby."

Alonso made it clear that the new team will honour the contracts of those cyclists currently under contract to Euskaltel Euskadi for the 2014 and 2015 seasons.