F1 Madness

Tag: cycling

  • Alonso’s cycling team plans collapse

    Alonso’s cycling team plans collapse

    Plans for Fernando Alonso to buy Spanish pro cycling team Euskaltel Euskadi have fallen through, according to a statement from the team.

    The Spanish squad, with which Alonso had reached an agreement at the end of August, said on Monday that talks had come to an end despite its best efforts to secure a deal that would save the team from closure following the loss of its main sponsor.

    “The negotiations between Euskaltel and the representatives of Fernando Alonso for the acquisition of the cycling team Euskaltel Euskadi on behalf of the Asturian driver, which began with an agreement in principle on August 31, have ended without an agreement,” the team said in a statement. “For Euskaltel it is sad news that after the hope generated by the agreement in principle, a definitive agreement has not been formalised to guarantee a professional future for the members of the team and to reward the fans that have been loyal until the last moment.”

    The statement continued: “We would like to explain the details of the negotiations, because we have done our part, with total honesty, but it is not possible because we need to respect the confidentiality of the negotiations. Having not achieved an agreement, Euskaltel is unfortunately obligated to restart an organised and responsible closure of the project.”

    Alonso has said that he remains determined to have his own cycling team, even if he had to start from scratch.

    “We’ve tried it until the end, but it’s just been impossible to have a cycling team in 2014,” Alonso said in a statement posted on Twitter.

    “My passion for this sport, my will to cooperate and do my bit remains intact, so this is only the beginning of the future.

    “From tomorrow morning we are going to work on building, if needs be from scratch, a team we can be proud of.

    “The best cycling team we can form, respecting this sport and with humility.

    “Cycling and its fans deserve the best and now we have time on our side, time in which we’ll be very attentive to any circumstance that we can learn from and, above all, that can make us better for next year.

    “It wasn’t to be, but it will be! This adventure has only just begun. Let’s look forward to 2015!”

     

  • Fernando Alonso saves cycling team

    Fernando Alonso saves cycling team

    Fernando Alonso kicked the silly season rumour mill into overdrive again when he announced on Twitter, “I have important news coming these days … Stay tuned here on Twitter and on the Web!!!”.

    F1 Fans would have been forgiven for thinking that news of a departure from Ferrari amidst rumours that the F1 driver could be headed for the Red Bull Racing Team after his manager was spotted talking to Christian Horner following the Hungarian Grand Prix.

    But, instead, Alonso announced that he would be saving cycling’s oldest team in the international peloton, Euskaltel-Euskadi. The 17 year old Spanish cycling team had been set for closure after its main sponsor – telecommunications company Euskaltel – said that it would be pulling out of the sport due to co-sponsors who had failed to provide promised funding.

    Alonso has agreed to purchase the Basque Pro Cycling Team (BCPT) company that owns the licence to Euskaltel Euskadi to enable the squad to continue racing in 2014. A deal is set to be signed imminently. Euskaltel said in a statement, “The negotiations will be completed in the next few weeks and will culminate in the purchase of the company [Basque Cycling Pro Team], which owns the team, by Fernando Alonso”.

    The statement went on to say, “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.”

    Financial details of the deal have not yet been made available but Spanish website elperiodico.com reported that he had bought the WorldTour licence for Spanish team Euskaltel-Euskadi, and had set aside a €6 million budget for it.