Fernando Alonso will buy Euskaltel-Euskadi. Photo: Vladimir Rys / Getty Images
The Euskaltel-Euskadi team confirmed reports that showed in the Spanish press this morning stating that Fernando Alonso has reached an agreement to take over the team.
In a press release, the Basque squad said that negotiations have been ongoing for some time and are set to be concluded today.
According to El Periodico, Alonso and his sponsors bought the WorldTour license for six million Euro and plan to build a team around Samuel Sanchez.
The Beijing Olympic Champion is one of the 14 riders on the 28-rider roster who have a contract for the next season. In the case of Sanchez he also has a contract with the team for 2015.
The new Euskaltel team will be based in the Asturias region, where Alonso himself is from. It will focus on regional riders too, next to the big names from Euskaltel like Samuel Sanchez, Igor Antón, Mikel Nieve and the Izaguirre brothers.
Euskaltel announced that it wouldn’t be able to contribute to the team in 2014, even though the Basque telecommunications company planned on a multiple year sponsorship.
The Basque team relies on funds from Euskaltel as well as the regional government and other institutions. Due to the economic crisis in Spain the budgets for sport sponsorships have faded.
Taking over the Euskaltel WorldTour license supposedly costs around six million Euros, a figure Alonso’s sponsors will pay. Alonso has been an avid cycling supporter and bike rider himself for years. He is also close friends with Alberto Contador. – Cycling News
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