Alonso's cycling team plans flounder
23 September 2013 – Fernando Alonso's plans to become an owner of an international cycling team have floundered, it has been confirmed.
Earlier this month it was announced that the Ferrari driver had agreed to purchase the company in charge of Euskaltel-Euskadi. However, talks with the Basque Pro Cycling Team (BCPT) company that owns the licence to the team have now collapsed.
“Euskaltel representatives cannot hide their disappointment at the outcome of the negotiation process,” read a statement from the team issued today.
“It is a sad day for Euskaltel and the team, after the expectations generated by the agreement in principle reached in late August and the public statements made at the time by Fernando Alonso and his representatives.”
“Euskaltel have devoted all our efforts to reach an agreement, doing our part, without any restriction.”